H.R. 5318 · 111th Congress
Small Business Investment Penalty Relief Act of 2010
- Stage
- In committee
- Sponsor
- Phil Gingrey
- Introduced
- 2010-05-14
- Latest action
- 2010-05-14 · Introduced in House
Summary
Small Business Investment Penalty Relief Act of 2010 - Amends the Internal Revenue Code to waive the 10% penalty on premature distributions made in 2010 or 2011 from a tax-exempt retirement plan if made for investment in a qualified small business (defined as having gross receipts not exceeding $20 million or not more than 50 full-time employees during the preceding taxable year).