Like Countable?

Install the App

bill Progress

  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Ways and Means
    IntroducedJune 27th, 2013

Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Countable will update some legislation with a revised summary, title or other key elements.

Suggest an update to this bill using our form.


Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2013

Official Title

To amend the Internal Revenue Code of 1986 to provide for the tax treatment of small business start-up savings accounts.


Incentivize Growth Now In Tomorrow's Entrepreneurs Act of 2013 - Amends the Internal Revenue Code to establish tax-exempt small business start-up accounts to provide for expenditures related to the creation or acquisition of an active trade or business. Limits the annual amount that may be contributed to such accounts to the lesser of $10,000 or the taxpayer's compensation that is includible in gross income. Sets forth reporting requirements for the trustee of a small business start-up account. Makes the tax penalties for prohibited transactions and excess contributions applicable to small business start-up savings accounts.

    There are currently no opinions on this bill, be the first to add one!