0
0
0
Small Business Jobs Act
12/15/2023, 3:59 PM
Summary of Bill HR 3937
The Small Business Jobs Act, also known as Bill 118 hr 3937, is a piece of legislation that aims to support small businesses in the United States. The bill includes a variety of provisions designed to help small businesses grow and create jobs.
One key aspect of the bill is the establishment of a Small Business Lending Fund, which provides capital to small banks and credit unions in order to increase their lending to small businesses. This fund is intended to help small businesses access the financing they need to expand and hire new employees.
Additionally, the Small Business Jobs Act includes tax incentives for small businesses, such as a temporary reduction in capital gains taxes for investments in small businesses. This is meant to encourage investment in small businesses and stimulate economic growth. The bill also includes provisions to streamline the process for small businesses to access government contracts, as well as measures to improve access to capital for small businesses owned by women, minorities, and veterans. Overall, the Small Business Jobs Act is aimed at providing support and resources to small businesses in order to help them thrive and create jobs. It is a bipartisan effort to boost the economy and promote entrepreneurship in the United States.
One key aspect of the bill is the establishment of a Small Business Lending Fund, which provides capital to small banks and credit unions in order to increase their lending to small businesses. This fund is intended to help small businesses access the financing they need to expand and hire new employees.
Additionally, the Small Business Jobs Act includes tax incentives for small businesses, such as a temporary reduction in capital gains taxes for investments in small businesses. This is meant to encourage investment in small businesses and stimulate economic growth. The bill also includes provisions to streamline the process for small businesses to access government contracts, as well as measures to improve access to capital for small businesses owned by women, minorities, and veterans. Overall, the Small Business Jobs Act is aimed at providing support and resources to small businesses in order to help them thrive and create jobs. It is a bipartisan effort to boost the economy and promote entrepreneurship in the United States.
Congressional Summary of HR 3937
Small Business Jobs Act
This bill provides tax incentives for investment in small businesses. Among other provisions, the bill
- increases from $600 to $5,000 (adjusted annually for inflation) the general reporting threshold for services performed by an independent contractor or subcontractor,
- restores reporting requirements for third party network transactions,
- modifies the exclusion of gain from the sale of qualified small business stock,
- increases the ceiling for expensing of depreciable business assets,
- establishes rural opportunity zones, and
- reinstates reporting requirements for qualified opportunity zones and applies such requirements to qualified rural opportunity zones.
Read the Full Bill
Current Status of Bill HR 3937
Bill HR 3937 is currently in the status of Bill Introduced since June 9, 2023. Bill HR 3937 was introduced during Congress 118 and was introduced to the House on June 9, 2023. Bill HR 3937's most recent activity was Placed on the Union Calendar, Calendar No. 100. as of June 30, 2023
Bipartisan Support of Bill HR 3937
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 3937
Primary Policy Focus
TaxationPotential Impact Areas
- Administrative law and regulatory procedures
- Business investment and capital
- Capital gains tax
- Inflation and prices
- Internal Revenue Service (IRS)
- Rural conditions and development
- Securities
- Small business
- Tax administration and collection, taxpayers
Alternate Title(s) of Bill HR 3937
Small Business Jobs Act
Small Business Jobs Act
Small Business Jobs Act
To amend the Internal Revenue Code of 1986 to promote the establishment and growth of small businesses.
Comments
Sponsors and Cosponsors of HR 3937
Latest Bills
USMMA Athletics Act of 2026
Bill S 3266August 13, 2026
Space Commerce Advisory Committee Act
Bill S 434August 13, 2026
Diversity Jurisdiction Inflation Adjustment Act
Bill S 4850August 13, 2026
Officer John Barnes and Chief Michael Ansbro Public Safety Officers' Benefit Program Expansion Act of 2026
Bill S 3897August 13, 2026
National Defense Authorization Act for Fiscal Year 2027
Bill S 4784August 13, 2026
Cahokia Mounds Mississippian Culture Study Act
Bill S 1516August 13, 2026
A bill to require the United States Postal Service to designate ZIP Codes for certain communities.
Bill S 4505August 13, 2026
A bill to designate the facility of the United States Postal Service located at 86-014 Farrington Highway in Waianae, Hawaii, as the "United States Representative Colleen Hanabusa Post Office Building".
Bill S 4830August 13, 2026
Continuing Appropriations and Extensions Act, 2027
Bill HR 6500August 13, 2026
A bill to designate the facility of the United States Postal Service located at 201 East Grant Avenue in Georgetown, Ohio, as the "Ulysses S. Grant Post Office Building".
Bill S 4745August 13, 2026