S. 3291: Small Business Bill of Rights
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S. 3291: Small Business Bill of Rights
114th Congress · introduced 2016-09-07 · Taxation · Latest: Read twice and referred to the Committee on Finance.
federal
Follow this bill, step by step
- Where it came from: introduced 2016-09-07 · official record
- Who proposed it: Sen. Kirk, Mark Steven [R-IL] · 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.
Official title
Small Business Bill of Rights
Plain summary
Small Business Bill of Rights This bill modifies tax provisions, regulatory requirements, and legal procedures that affect small businesses. Bringing Business Back Act of 2016 The bill amends the Internal Revenue Code to allow a tax exclusion for certain income attributable to real property in areas that meet criteria regarding unemployment, poverty, or other signs of distress. The bill temporarily reduces the capital gains tax on certain small business stock, increases the deduction for start-up expenditures, and exempts small businesses from tax increases. Federal agencies must review existing and proposed regulations that affect small businesses using specified criteria. Certain new small business regulations must expire after seven years, unless they are renewed. Death Tax Repeal Act of 2016 The bill repeals the estate and generation-skipping transfer taxes and makes permanent the maximum 35% gift tax rate and the lifetime gift tax exemption. It also extends or makes permanent several tax credits and deductions related to energy efficiency. With respect to the legal process, the bill establishes requirements and limitations for lawsuits arising from health care liability claims regarding health care goods or services or any medical product affecting interstate commerce. The bill amends the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 to permit verifications under the E-Verify program to be provided by telephone. The bill amends the Small Business Act to modify policies regarding goals for participation of small businesses in procurement contracts and the bundling of contracts. It also establishes criminal penalties for making false statements regarding status as a small business concern or compliance with the Small Business Act to obtain, retain, or complete a federal contract.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
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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.
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What does this mean? (plain words)
Official text
Small Business Bill of Rights
Source: Congressional Research Service summary (Introduced in Senate)
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Kirk, Mark Steven [R-IL] · 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 (5)
- 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).
- Capital gains
- The profit from selling something you own, such as stock or real estate, for more than you paid. A capital gains tax is a tax on that profit.
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
- Inheritance tax
- A tax on property a person receives from someone who has died, paid by the person who inherits it. Compare estate tax.
- 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-114s3291.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>
Record fed-us-cong114-s3291 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114