Support Small Business R & D Act of 2017

Bill: 115-s-650
Sponsor: full_name: Sen. Coons, Christopher A. [D-DE]
Introduced: 2017-03-15
Policy area: Commerce
Subjects: Business education

Congressional oversight

Government information and archives

Income tax credits

Research and development

Small business
Latest action: action_date: 2017-08-02
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 195.

Summaries:
action_date: 2017-03-15
action_desc: Introduced in Senate
text: <p><b>Support Small Business R &amp; D Act of 2017</b></p> <p>This bill requires the Small Business Administration (SBA), in consultation with the Internal Revenue Service (IRS), to develop partnership agreements to:</p> <ul> <li>provide for development of basic training relating to federal income tax credits benefitting small business concerns and startups, especially credits for research and experimentation, and informational materials relating to such credits, including IRS guidance documents; </li> <li> provide these basic training and informational materials through electronic resources and at physical locations; and</li> <li> make the materials available to SBA business development programs and business development entities that partner with SBA programs, including universities, nonprofits, business incubators, and business accelerators.</li> </ul> <p>The bill amends the Small Business Act to require SBA development centers to provide, in conjunction with the IRS, informational materials, education, and basic training to small business concerns relating to federal income tax credits, including credits available to: (1) businesses generally; and (2) small business concerns and startups specifically, especially credits for research and experimentation.</p> Such materials, education, and basic training may be delivered in person or through an Internet website.

action_date: 2017-08-02
action_desc: Reported to Senate without amendment
text: <p>(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)</p> <p><b>Support Small Business R &amp; D Act of 2017</b></p> <p>(Sec. 3) This bill requires the Small Business Administration (SBA) to develop partnership agreements to:</p> <ul> <li>provide for development of basic training relating to federal income tax credits benefitting small business concerns and startups, especially credits for research and experimentation, and informational materials relating to such credits, including Internal Revenue Service (IRS) guidance documents; </li> <li> provide these basic training and informational materials through electronic resources and at physical locations; and</li> <li> make the materials available to SBA business development programs and business development entities that partner with SBA programs, including universities, nonprofits, business incubators, and business accelerators.</li> </ul> <p>(Sec. 5) The bill amends the Small Business Act to require SBA development centers to provide, in conjunction with the IRS, informational materials, education, and basic training to small business concerns relating to federal income tax credits, including credits available to: (1) businesses generally; and (2) small business concerns and startups specifically, especially credits for research and experimentation. Such materials, education, and basic training may be delivered in person or through an Internet website. </p>

tv_txt: II 115th CONGRESS 1st Session S. 650 IN THE SENATE OF THE UNITED STATES March 15, 2017 Mr. Coons (for himself and Mr. Roberts ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To amend the Small Business Act to expand tax credit education and training for small businesses that engage in research and development, and for other purposes.

1. Short title This Act may be cited as the Support Small Business R & D Act of 2017 . 2. Definitions In this Act— (1) the term Administrator means the Administrator of the Small Business Administration; (2) the term Commissioner means the Commissioner of Internal Revenue; (3) the term small business concern has the meaning given the term in section 3 of the Small Business Act ( 15 U.S.C. 632 ); and (4) the term small business development center means a center described in section 21 of the Small Business Act ( 15 U.S.C. 648 ). 3. SBA and IRS partnerships Beginning not later than 180 days after the date of enactment of this Act, the Administrator, in consultation with the Commissioner, shall develop partnership agreements that— (1) provide for the development of— (A) basic training, including in-person or modular training sessions, relating to Federal income tax credits that benefit small business concerns and startups, especially credits for research and experimentation; and (B) informational materials relating to such credits, including Internal Revenue Service guidance documents; (2) provide the basic training and informational materials developed under paragraph (1)— (A) through electronic resources, including Internet-based webinars; and (B) at physical locations, including small business development centers; and (3) make such materials available to— (A) business development programs administered by the Small Business Administration, including women’s business centers, Veterans Business Outreach Centers, and U.S. Export Assistance Centers, and nonprofit research partners such as the Service Corps of Retired Executives authorized under section 8(b)(1)(B) of the Small Business Act ( 15 U.S.C. 637(b)(1)(B) ); and (B) business development entities that partner with Small Business Administration programs, including universities, nonprofits, business incubators, and business accelerators. 4. Reporting Requirement Not later than 180 days after the date of enactment of this Act, the Administrator, in consultation with the Commissioner, shall submit to Congress a report describing how the Small Business Administration and the Internal Revenue Service will— (1) provide outreach and educational materials to small business concerns, businesses of medium size, and startups regarding section 41(h) of the Internal Revenue Code of 1986, as amended by section 121 of the Protecting Americans from Tax Hikes Act of 2015; and (2) help and encourage tax advisors to educate such businesses about the important amendments made by such Act to section 41 of such Code. 5. Small Business Development Centers Section 21(c)(3) of the Small Business Act ( 15 U.S.C. 648(c)(3) ) is amended— (1) in subparagraph (S), by striking and at the end; (2) in subparagraph (T), by striking the period at the end and inserting ; and ; and (3) by adding at the end the following: (U) in conjunction with the Internal Revenue Service, providing informational materials, education, and basic training— (i) to small business concerns relating to Federal income tax credits available under the Internal Revenue Code of 1986, including— (I) credits available to businesses generally; and (II) credits available to small business concerns and startups specifically, especially credits for research and experimentation; and (ii) which may be delivered— (I) in person; or (II) through an Internet website. .

tv_txt: II Calendar No. 195 115th CONGRESS 1st Session S. 650 IN THE SENATE OF THE UNITED STATES March 15, 2017 Mr. Coons (for himself and Mr. Roberts ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship August 2, 2017 Reported by Mr. Risch , without amendment A BILL To amend the Small Business Act to expand tax credit education and training for small businesses that engage in research and development, and for other purposes.

1. Short title This Act may be cited as the Support Small Business R & D Act of 2017 . 2. Definitions In this Act— (1) the term Administrator means the Administrator of the Small Business Administration; (2) the term Commissioner means the Commissioner of Internal Revenue; (3) the term small business concern has the meaning given the term in section 3 of the Small Business Act ( 15 U.S.C. 632 ); and (4) the term small business development center means a center described in section 21 of the Small Business Act ( 15 U.S.C. 648 ). 3. SBA and IRS partnerships Beginning not later than 180 days after the date of enactment of this Act, the Administrator, in consultation with the Commissioner, shall develop partnership agreements that— (1) provide for the development of— (A) basic training, including in-person or modular training sessions, relating to Federal income tax credits that benefit small business concerns and startups, especially credits for research and experimentation; and (B) informational materials relating to such credits, including Internal Revenue Service guidance documents; (2) provide the basic training and informational materials developed under paragraph (1)— (A) through electronic resources, including Internet-based webinars; and (B) at physical locations, including small business development centers; and (3) make such materials available to— (A) business development programs administered by the Small Business Administration, including women’s business centers, Veterans Business Outreach Centers, and U.S. Export Assistance Centers, and nonprofit research partners such as the Service Corps of Retired Executives authorized under section 8(b)(1)(B) of the Small Business Act ( 15 U.S.C. 637(b)(1)(B) ); and (B) business development entities that partner with Small Business Administration programs, including universities, nonprofits, business incubators, and business accelerators. 4. Reporting Requirement Not later than 180 days after the date of enactment of this Act, the Administrator, in consultation with the Commissioner, shall submit to Congress a report describing how the Small Business Administration and the Internal Revenue Service will— (1) provide outreach and educational materials to small business concerns, businesses of medium size, and startups regarding section 41(h) of the Internal Revenue Code of 1986, as amended by section 121 of the Protecting Americans from Tax Hikes Act of 2015; and (2) help and encourage tax advisors to educate such businesses about the important amendments made by such Act to section 41 of such Code. 5. Small Business Development Centers Section 21(c)(3) of the Small Business Act ( 15 U.S.C. 648(c)(3) ) is amended— (1) in subparagraph (S), by striking and at the end; (2) in subparagraph (T), by striking the period at the end and inserting ; and ; and (3) by adding at the end the following: (U) in conjunction with the Internal Revenue Service, providing informational materials, education, and basic training— (i) to small business concerns relating to Federal income tax credits available under the Internal Revenue Code of 1986, including— (I) credits available to businesses generally; and (II) credits available to small business concerns and startups specifically, especially credits for research and experimentation; and (ii) which may be delivered— (I) in person; or (II) through an Internet website. .

August 2, 2017 Reported without amendment