S. 1658: Start-up Jobs and Innovation Act

113th Congress · introduced 2013-11-06 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2013-11-06 · official record
Who proposed it: Sen. Toomey, Patrick [R-PA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
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

Start-up Jobs and Innovation Act

Plain summary

Start-up Jobs and Innovation Act - Amends the Internal Revenue Code to: (1) make permanent the increase to $500,000 of the expensing allowance for business assets, including computer software, and the treatment of qualified real property as depreciable business property; (2) make permanent the 100% exclusion from gross income of gain from the sale or exchange of small business stock; (3) increase and equalize the tax deduction for business start-up expenses and organizational expenditures; (4) increase from $5 million to $10 million the gross receipt test used to determine the eligibility of small businesses to use simplified cash accounting and inventory rules; and (5) exempt from passive loss rules any research activity carried on by a high technology research small business pass-thru entity.

Congressional Research Service summary (Introduced in Senate), 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

Start-up Jobs and Innovation Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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

Officials and money

Sponsor: Sen. Toomey, Patrick [R-PA] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

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.

Words on this page, explained (2)

Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113s1658.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/s>

Record fed-us-cong113-s1658 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113