Support Small Business R & D Act of 2020
This bill requires the Small Business Administration (SBA) to provide resources to small businesses relating to available federal income tax credits.
Specifically, the bill requires the SBA, in consultation with the Internal Revenue Service, to provide and make available, both in-person and online, training and information about federal income tax credits that benefit small businesses and startups. This training and information shall have a particular focus on credits for research and experimentation.
In addition, the bill requires small business development centers to provide such training and information as part of the services they render to small businesses and startups.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 3291 Introduced in Senate (IS)]
<DOC>
116th CONGRESS
2d Session
S. 3291
To amend the Small Business Act to expand tax credit education and
training for small businesses that engage in research and development,
and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 13, 2020
Mr. Roberts (for himself and Mr. Coons) introduced the following bill;
which was read twice and referred to the Committee on Small Business
and Entrepreneurship
_______________________________________________________________________
A BILL
To amend the Small Business Act to expand tax credit education and
training for small businesses that engage in research and development,
and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Support Small Business R & D Act of
2020''.
SEC. 2. DEFINITIONS.
In this Act--
(1) the terms ``Administration'' and ``Administrator'' mean
the Small Business Administration and the Administrator
thereof, respectively;
(2) the term ``Commissioner'' means the Commissioner of
Internal Revenue;
(3) the term ``Export Assistance Center'' has the meaning
given the term in section 22 of the Small Business Act (15
U.S.C. 649);
(4) the term ``small business concern'' has the meaning
given the term in section 3 of the Small Business Act (15
U.S.C. 632);
(5) the term ``small business development center'' means a
small business development center described in section 21 of
the Small Business Act (15 U.S.C. 648);
(6) the term ``veterans' business outreach center'' means a
veterans' business outreach center described in section 32 of
the Small Business Act (15 U.S.C. 657b); and
(7) the term ``women's business center'' means a women's
business center described in section 29 of the Small Business
Act (15 U.S.C. 656).
SEC. 3. SBA AND IRS PARTNERSHIPS.
Beginning not later than 180 days after the date of enactment of
this Act, the Administrator, in consultation with the Commissioner,
shall develop partnership agreements that--
(1) provide for the development of--
(A) basic training, including in-person or modular
training sessions, relating to Federal income tax
credits that benefit small business concerns and
startups, especially credits for research and
experimentation; and
(B) informational materials relating to those
credits, including Internal Revenue Service guidance
documents;
(2) provide the basic training and informational materials
developed under paragraph (1)--
(A) through electronic resources, including
internet-based webinars; and
(B) at physical locations, including small business
development centers; and
(3) make those materials available to--
(A) business development programs administered by
the Administration, including women's business centers,
veterans' business outreach centers, and Export
Assistance Centers, and nonprofit research partners
such as the Service Corps of Retired Executives
authorized under section 8(b)(1)(B) of the Small
Business Act (15 U.S.C. 637(b)(1)(B)); and
(B) business development entities that partner with
programs administered by the Administration, including
universities, nonprofit organizations, business
incubators, and business accelerators.
SEC. 4. REPORTING REQUIREMENT.
Not later than 180 days after the date of enactment of this Act,
the Administrator, in consultation with the Commissioner, shall submit
to Congress a report describing how the Administration and the Internal
Revenue Service will--
(1) provide outreach and educational materials to small
business concerns, businesses of medium size, and startups
regarding section 41(h) of the Internal Revenue Code of 1986,
as amended by section 121 of the Protecting Americans from Tax
Hikes Act of 2015; and
(2) help and encourage tax advisors to educate those
businesses about the important amendments made by such Act to
section 41 of such Code.
SEC. 5. SMALL BUSINESS DEVELOPMENT CENTERS.
Section 21(c)(3) of the Small Business Act (15 U.S.C. 648(c)(3)) is
amended--
(1) in subparagraph (T), by striking ``and'' at the end;
(2) in the first subparagraph designated as subparagraph
(U), by striking the period at the end and inserting a
semicolon;
(3) by redesignating the second subparagraph designated as
subparagraph (U) as subparagraph (V);
(4) in subparagraph (V), as so redesignated, by striking
the period at the end and inserting ``; and''; and
(5) by adding at the end the following:
``(W) in conjunction with the Internal Revenue
Service, providing informational materials, education,
and basic training--
``(i) to small business concerns relating
to Federal income tax credits available under
the Internal Revenue Code of 1986, including--
``(I) credits available to
businesses generally; and
``(II) credits available to small
business concerns and startups
specifically, especially credits for
research and experimentation; and
``(ii) which may be delivered--
``(I) in person; or
``(II) through an internet
website.''.
<all>
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
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