Small Business Investment and Growth Act

Small Business Investment and Growth Act - Amends the Internal Revenue Code to establish a maximum small business tax rate on taxable small business income for S corporations. Describes such income as taxable income of the taxpayer from the active conduct of an eligible trade or small business. Requires each S corporation to establish a qualified retained earnings account. Allows qualified distributions from such a qualified retained earnings account to the owners to enable the S corporation shareholder to pay income taxes. Requires regulations to establish a presumption that distributions are to pay income taxes if such distributions do not exceed 34 percent of small business income. Provides for an additional tax on nonqualified distributions.