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H.R. 5318: Small Business Investment Penalty Relief Act of 2010

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H.R. 5318: Small Business Investment Penalty Relief Act of 2010

111th Congress · introduced 2010-05-14 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2010-05-14 · official record
  2. Who proposed it: Rep. Gingrey, Phil [R-GA-11] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Small Business Investment Penalty Relief Act of 2010

Plain summary

Small Business Investment Penalty Relief Act of 2010 - Amends the Internal Revenue Code to waive the 10% penalty on premature distributions made in 2010 or 2011 from a tax-exempt retirement plan if made for investment in a qualified small business (defined as having gross receipts not exceeding $20 million or not more than 50 full-time employees during the preceding taxable year).

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Small Business Investment Penalty Relief Act of 2010

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Gingrey, Phil [R-GA-11] · 25 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Marsha Blackburn (R-TN), Cynthia M. Lummis (R-WY), Tom McClintock (R-CA), Robert E. Latta (R-OH), Robert J. Wittman (R-VA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong111-hr5318 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111