H.R. 3937 — Small Business Jobs Act

Summary

Small Business Jobs Act

This bill provides tax incentives for investment in small businesses. Among other provisions, the bill

increases from $600 to $5,000 (adjusted annually for inflation) the general reporting threshold for services performed by an independent contractor or subcontractor,
restores reporting requirements for third party network transactions,
modifies the exclusion of gain from the sale of qualified small business stock,
increases the ceiling for expensing of depreciable business assets,
establishes rural opportunity zones, and
reinstates reporting requirements for qualified opportunity zones and applies such requirements to qualified rural opportunity zones.

2023-06-09
Introduced in House
2023-06-09
Introduced in House
2023-06-09
Referred to the House Committee on Ways and Means.
2023-06-13
Committee Consideration and Mark-up Session Held
2023-06-13
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 18.
2023-06-30
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-128.
2023-06-30
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-128.
2023-06-30
Placed on the Union Calendar, Calendar No. 100.