S. 2553IntroducedCOMMERCE
Small Business Stimulus Act of 2008
Appropriations · Depreciation and amortization · Economics and Public Finance
Sponsor
Sen. Kerry, John F. [D-MA]
D · MA
Key facts
Introduced: Jan 24, 2008
Chamber: Senate
Cosponsors: 2
Congress: 110th
Latest action · Apr 16, 2008
Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 110-776.
Summary
Small Business Stimulus Act of 2008 - Directs the Administrator of the Small Business Administration (SBA) to reduce in 2008 the rate of certain loan fees imposed under the Small Business Act.
Appropriates, as an emergency requirement, additional funds in FY2008 for: (1) loan subsidies under the SBA Business Loans Program Account; and (2) direct loans and assistance under the SBA Microloan Program.
Amends the Internal Revenue Code to: (1) increase to $200,000 in 2008 the expensing allowance for depreciable business assets; and (2) extend through 2008 the five-year carryback of certain unused net operating losses.
Summary by Congressional Research Service.
Timeline
- Apr 16, 2008Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 110-776.
- Jan 24, 2008Read twice and referred to the Committee on Finance.
- Jan 24, 2008Introduced in Senate
Cosponsors
- Sen. Landrieu, Mary L. [D-LA] D-LA
- Sen. Levin, Carl [D-MI] D-MI
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