- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
House Committee on Ways and MeansIntroducedMay 14th, 2010
- house Committees
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Small Business Investment Penalty Relief Act of 2010
To amend the Internal Revenue Code of 1986 to waive the 10-percent penalty on early distributions from individual retirement plans for small business investments.
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).