I 

111TH CONGRESS 

2D SESSION H. R. 4841 

To amend the Internal Revenue Code of 1986 to provide tax relief for 

small businesses. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 12, 2010 

Ms. VELA ́ZQUEZ introduced the following bill; which was referred to the 

Committee on Ways and Means 

A BILL 

To amend the Internal Revenue Code of 1986 to provide 

tax relief for small businesses. 

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

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Small Business Tax 

5 Relief and Job Growth Act of 2010’’. 

6 SEC. 2. INCREASE IN ALLOWABLE OF STARTUP EXPENDI7 TURES. 

8 (a) IN GENERAL.—Clause (ii) of section 

9 195(b)(1)(A) of the Internal Revenue Code of 1986 is 

10 amended by striking ‘‘$5,000’’ and inserting ‘‘$20,000’’. 


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1 (b) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to amounts paid or incurred in tax3 able years beginning after December 31, 2009. 

4 SEC. 3. INCLUSION OF CERTAIN IMPROVEMENTS AS SEC5 TION 179 PROPERTY. 

6 (a) IN GENERAL.—Subsection (d) of section 179 of 

7 the Internal Revenue Code of 1986 is amended by adding 

8 at the end the following new paragraph: 

9 ‘‘(11) SPECIAL RULE FOR 2010 AND 2011.—For 

10 purposes of this section— 

11 ‘‘(A) IN GENERAL.—The term ‘section 179 

12 property’ shall include any qualified improve13 ment to real property, or qualified structural 

14 improvement, placed in service after December 

15 31, 2009, and before January 1, 2012. 

16 ‘‘(B) QUALIFIED IMPROVEMENTS TO REAL

17 PROPERTY.—For purposes of subparagraph 

18 (A), the term ‘improvements to real property’ 

19 means any improvement to a paved parking 

20 area, wharve, dock, bridge, fence, retaining 

21 wall, outdoor lighting, or other improvement 

22 (other than to a building or its structural com23 ponents), intended to improve or make such 

24 property ready for use in a trade or business. 


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1 ‘‘(C) QUALIFIED STRUCTURAL IMPROVE2 MENT.—For purposes of subparagraph (A), the 

3 term ‘structural improvement’ means any im4 provement to a building or its structural compo5 nents (including improvements to the roof, 

6 drainage, plumbing, electrical components, heat7 ing, ventilation, or air conditioning, insulation, 

8 fire protection) intended to improve or make 

9 such building ready for use in a trade or busi10 ness.’’. 

11 (b) EFFECTIVE DATE.—The amendments made by 

12 this section shall apply to taxable years beginning after 

13 December 31, 2009. 

14 SEC. 4. REDUCE CORPORATE CAPITAL GAINS RATE FOR 

15 SMALL BUSINESS. 

16 (a) IN GENERAL.—Section 1201 of the Internal Rev17 enue Code of 1986 is amended by redesignating subsection 

18 (d) as subsection (e) and by inserting after subsection (c) 

19 the following new subsection: 

20 ‘‘(d) SPECIAL RULE FOR QUALIFIED SMALL BUSI21 NESS.— 

22 ‘‘(1) IN GENERAL.—In the case of a qualified 

23 small business, subsection (a) shall be applied by 

24 substituting ‘15 percent’ for ‘35 percent’ each place 

25 it appears. 


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1 ‘‘(2) QUALIFIED SMALL BUSINESS.—For pur2 poses of this subsection, the term ‘qualified small 

3 business’ with respect to any taxable year means a 

4 corporation which, for 3 of the 5 immediately pre5 ceding taxable years— 

6 ‘‘(A) was a C corporation, and 

7 ‘‘(B) had average annual gross receipts of 

8 not more than $15,000,000. 

9 ‘‘(3) CONTROLLED GROUPS.—For purposes of 

10 the paragraph (2), all corporations which are mem11 bers of the same controlled group of corporations 

12 (within the meaning of section 1563(a)) shall be 

13 treated as 1 corporation.’’. 

14 (b) EFFECTIVE DATE.—The amendments made by 

15 this section shall apply to taxable years beginning after 

16 the date of the enactment of this Act. 

Æ 


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