II

104TH CONGRESS

1ST SESSION S. 521

Entitled, the ‘‘Small Business Enhancement Act of 1995’’.

IN THE SENATE OF THE UNITED STATES

MARCH 9 (legislative day, MARCH 6), 1995

Ms. SNOWE introduced the following bill; which was read twice and referred

to the Committee on Finance

A BILL

Entitled, the ‘‘Small Business Enhancement Act of 1995’’.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION. 1. DEDUCTION FOR HEALTH INSURANCE COSTS

4 OF SELF-EMPLOYED INDIVIDUALS IN5 CREASED AND MADE PERMANENT.

6 (a) IN GENERAL.—Paragraph (1) of section 162(l)

7 of the Internal Revenue Code of 1986 (relating to special

8 rules for health insurance costs of self-employed individ9 uals) is amended by striking ‘‘25 percent of’’.

10 (b) DEDUCTION MADE PERMANENT.—Paragraph (6)

11 of section 162(l) of such Code is hereby repealed.

12 (c) EFFECTIVE DATE.—
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1 (1) INCREASE.—The amendment made by sub2 section (a) shall apply to taxable years beginning

3 after December 31, 1994.

4 (2) EXTENSION.—The amendment made by

5 subsection (b) shall apply to taxable years beginning

6 after December 31, 1993.

7 SEC. 2. ASSISTANT UNITED STATES TRADE REPRESENTA8 TIVE FOR SMALL BUSINESS.

9 The United States Trade Representative shall estab10 lish a new position of Assistant United States Trade Rep11 resentative for Small Business to promote exports by small

12 businesses and to remove foreign impediments to the suc13 cess of such undertakings.

14 SEC. 3. CONGRESSIONAL BUDGET OFFICE COST ANALYSIS.

15 (a) CBO ANALYSIS.—Title IV of the Congressional

16 Budget Act of 1974 (2 U.S.C. 651 et seq.) is amended

17 by inserting after section 403 the following new section:

18 ‘‘SMALL BUSINESS COST ANALYSIS BY CONGRESSIONAL

19 BUDGET OFFICE

20 ‘‘SEC. 404. (a) The Director of the Congressional

21 Budget Office shall, to the extent practicable, prepare for

22 each bill or resolution of a public character reported by

23 any committee of the House of Representatives or the Sen24 ate (except the Committee on Appropriations of each

25 House), and submit to such committee—
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1 ‘‘(1) an estimate of the costs which would be in2 curred in carrying out such bill or resolution in the

3 fiscal year in which it is to become effective and in

4 each of the 4 fiscal years following such fiscal year,

5 together with the basis for each such estimate;

6 ‘‘(2) an estimate of the cost which would be in7 curred by small businesses in carrying out or com8 plying with any significant bill or resolution in the

9 fiscal year in which it is to become effective and in

10 each of the 4 fiscal years following such fiscal year,

11 together with the basis for each such estimate; and

12 ‘‘(3) a comparison of the estimates of costs de13 scribed in paragraphs (1) and (2) with any available

14 estimates of costs made by such committee or by a

15 Federal agency.

16 The estimates, comparison, and description so submitted

17 shall be included in the report accompanying such bill or

18 resolution if timely submitted to such committee before

19 such report is filed.

20 ‘‘(b) For purposes of this section—

21 ‘‘(1) the term ‘small business’ has the same

22 meaning as the term ‘small-business concern’ in sec23 tion 3(a) of the Small Business Act (15 U.S.C.

24 632(a)); and
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1 ‘‘(2) the term ‘significant bill or resolution’ is

2 defined as any bill or resolution which in the judg3 ment of the Director of the Congressional Budget

4 Office is likely to result in an average annual cost

5 to a small business of $1,000 or more, or is likely

6 to have exceptional fiscal consequences for a geo7 graphic region or a particular industry segment.’’.

8 (b) CONFORMING AMENDMENT.—The table of con9 tents set forth in section 2(b) of the Congressional Budget

10 and Impoundment Control Act of 1974 is amended by in11 serting after the item relating to section 403 the following

12 new item:

‘‘Sec. 404. Small business cost analysis by Congressional Budget Office.’’.

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