To amend the Internal Revenue Code of 1986 to provide tax incentives to encourage corporations to provide financing and management support services to enable welfare recipients to leave welfare and operate small business concerns.
Welfare Opportunities and Pay Back Act - Amends the Internal Revenue Code to allow a deduction for equity contributions made by certain domestic corporations to their welfare opportunity financing subsidiaries to make business loans to qualified small business concerns.
Provides for repayments of certain welfare benefits by borrowers of such loans.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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