S. 1540: Growing Small Businesses Act

115th Congress · introduced 2017-07-12 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2017-07-12 · official record
Who proposed it: Sen. Stabenow, Debbie [D-MI] · 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

Growing Small Businesses Act

Plain summary

Growing Small Businesses Act This bill amends the Internal Revenue Code to allow a tax credit for investments in a small business's first qualifying production facility. The credit is equal to 25% of the cost of property for an eligible employer's first qualifying production facility placed in service during the year. The credit applies to employers who: (1) have no more than 50 full-time equivalent employees, and (2) have not previously placed in service a dedicated facility for the production of goods for sale. A "qualifying production facility" must be used to produce any of the following products: tangible personal property, computer software, films and videotape, sound recordings, or food and beverages which are prepared by the taxpayer but not primarily for consumption at property owned by the taxpayer. Qualifying employers may elect to apply up to $250,000 of the credit against payroll taxes.

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

Growing Small Businesses Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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

Officials and money

Sponsor: Sen. Stabenow, Debbie [D-MI] · 3 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Gary C. Peters (D-MI), Amy Klobuchar (D-MN)

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 Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115s1540.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/s>

Record fed-us-cong115-s1540 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115