H.R. 4868: Rural Main Street Investment Credit Act of 2016
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H.R. 4868: Rural Main Street Investment Credit Act of 2016
114th Congress · introduced 2016-03-23 · Taxation · Latest: Referred to the House Committee on Ways and Means.
federal
Follow this bill, step by step
- Where it came from: introduced 2016-03-23 · official record
- Who proposed it: Rep. Kind, Ron [D-WI-3] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- 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.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Rural Main Street Investment Credit Act of 2016
Plain summary
Rural Main Street Investment Credit Act of 2016 This bill amends the Internal Revenue Code to allow a business-related tax credit for 35% of new investment in a rural microbusiness. There is a limit on such credit, for any rural microbusiness or any taxpayer, of $10,000 in a taxable year reduced by the amount allowed as a credit for all preceding taxable years. A "rural microbusiness" is a trade or business that employs not more than five full-time employees in a taxable year and that is carried on, and physically located, in a distressed rural area. A "distressed rural area" as an area that has lost at least 5% of its population over the last 10 years or 10% of its population over the last 20 years, that has a median family income below 85 % of the national median family income, that has a poverty rate that exceeds 12.5%, or where average unemployment in the preceding year exceeds 120% of the national average.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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Official text
Rural Main Street Investment Credit Act of 2016
Source: Congressional Research Service summary (Introduced in House)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Kind, Ron [D-WI-3] · 0 cosponsors
Cost estimate: No cost estimate published yet.
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 (1)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr4868.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>
Record fed-us-cong114-hr4868 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114