A bill to modify certain fees applicable under the Small Business Act for 2008, to make an emergency appropriation for certain small business programs, and to amend the Internal Revenue Code of 1986 to provide increased expensing for 2008, to provide a 5-year carryback for certain net operating losses, and for other purposes.
Small Business Stimulus Act of 2008 - Directs the Administrator of the Small Business Administration (SBA) to reduce in 2008 the rate of certain loan fees imposed under the Small Business Act.
Appropriates, as an emergency requirement, additional funds in FY2008 for: (1) loan subsidies under the SBA Business Loans Program Account; and (2) direct loans and assistance under the SBA Microloan Program.
Amends the Internal Revenue Code to: (1) increase to $200,000 in 2008 the expensing allowance for depreciable business assets; and (2) extend through 2008 the five-year carryback of certain unused net operating losses.
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Small Business and Entrepreneurship. Hearings held.
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