Small Business Investment and Promotion Act of 2006 - Amends the Internal Revenue Code to: (1) provide to small business owners and operators of farming or commercial fishing businesses a temporary credit for excessive fuel costs paid or incurred in the operation of such business; (2) make permanent the credit for increasing research activities; and (3) treat as 15-year property for purposes of the depreciation deduction qualified restaurant property, qualified retail improvement property, and certain systems installed in nonresidential buildings.
Authorizes appropriations for FY2007-FY2008 for: (1) the Advanced Technology Program; (2) the Service Corps of Retired Executives (SCORE); (3) small business development centers; (4) the Manufacturing Extension Partnership program; and (5) the Women's Business Centers program.
Expresses the sense of Congress calling for appropriate funding for the above programs and the Small Business Act's 7(a) loan program.
Amends the Immigration and Nationality Act to provide market-based adjustments in annual H-1B and H-2B nonimmigrant numerical limitations.
Amends the Small Business Act to include awards for contracts performed outside the United States within the federal government's small business contracting goal.
[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5058 Introduced in House (IH)]
109th CONGRESS
2d Session
H. R. 5058
To provide support for small business concerns, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 30, 2006
Mr. Allen introduced the following bill; which was referred to the
Committee on Ways and Means, and in addition to the Committees on Small
Business, the Judiciary, and Science, for a period to be subsequently
determined by the Speaker, in each case for consideration of such
provisions as fall within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To provide support for small business concerns, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be referred to as the ``Small Business Investment and
Promotion Act of 2006''.
SEC. 2. TEMPORARY CREDIT AGAINST INCOME TAX FOR SMALL BUSINESSES,
FARMERS, AND FISHERMEN TO OFFSET HIGH FUEL COSTS.
(a) In General.--Subpart D of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to business-related
credits) is amended by inserting after section 45M the following new
section:
``SEC. 45N. TEMPORARY CREDIT FOR SMALL BUSINESSES, FARMERS, AND
FISHERMEN TO OFFSET HIGH FUEL COSTS.
``(a) Allowance of Credit.--In the case of an eligible taxpayer,
the excessive fuel cost credit determined under this section is an
amount equal to the excessive fuel cost paid or incurred by the
taxpayer during the taxable year for any creditable fuel used in any
trade or business of the taxpayer.
``(b) Excessive Fuel Cost.--For purposes of this section--
``(1) In general.--The term `excessive fuel cost' means,
with respect to any creditable fuel, the excess (if any) of--
``(A) the amount paid or incurred by the taxpayer
for such fuel, over
``(B) the adjusted base price for such fuel.
``(2) Adjusted base price.--
``(A) In general.--The term `adjusted base price'
means, with respect to any creditable fuel, the amount
determined by the Secretary to be the applicable Labor
Day 2004 price for such fuel adjusted for inflation.
``(B) Applicable price.--The applicable Labor Day
2004 price for any fuel is the average price for such
fuel for the region in which the taxpayer purchased
such fuel (as determined using data of the Energy
Information Agency of the Department of Energy).
``(C) Inflation adjustment.--The inflation
adjustment shall be determined under the principles of
section 1(f); except that, the Secretary shall use
estimates of the monthly Consumer Price Index (as
defined in such section) where possible to more closely
reflect current inflation.
``(c) Eligible Taxpayer.--For purposes of this section--
``(1) In general.--The term `eligible taxpayer' means any
person engaged in a trade or business if--
``(A) such trade or business is--
``(i) a farming business (as defined by
section 263A(e)(4), or
``(ii) commercial fishing (as defined in
section 3 of the Magnuson-Stevens Fishery
Conservation and Management Act (16 U.S.C.
1802)), or
``(B) such person is a small business.
``(2) Small business.--The term `small business' means a
trade or business that employs an annual average of not more
than 50 employees.
``(3) Creditable fuel.--The term `creditable fuel' means--
``(A) gasoline,
``(B) diesel fuel,
``(C) heating oil, and
``(D) natural gas.
``(d) Adjustment of Standard Mileage Rate.--An eligible taxpayer
may elect, in lieu of the credit under this section, a standard mileage
allowance under section 162 equal to 60 cents for each mile traveled
during the period described in subsection (e). The Secretary shall
modify the standard mileage rate under the preceding sentence to the
extent that 60 cents does not accurately reflect that value of the
credit under this section.
``(e) Application of Section.--This section shall apply to fuels
purchased during the 2-year period beginning on the date of the
enactment of this section.''.
(b) Credit to Be Part of General Business Credit.--Subsection (b)
of section 38 of such Code is amended by striking ``plus'' at the end
of paragraph (25), by striking the period at the end of paragraph (26)
and inserting ``, plus'', and by adding at the end the following new
paragraph:
``(27) in the case of an eligible taxpayer (as defined in
section 45N(c)), the excessive fuel cost credit determined
under section 45N(a).''.
(c) Clerical Amendment.--The table of sections for subpart D of
part IV of subchapter A of chapter 1 of such Code is amended by
inserting after the item relating to section 45M the following new
item:
``Sec. 45N. Temporary credit for small businesses, farmers, and
fishermen to offset high fuel costs.''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years ending after the date of the enactment of this
Act.
SEC. 3. PERMANENT EXTENSION OF RESEARCH CREDIT.
(a) In General.--Section 41 of the Internal Revenue Code of 1986
(relating to credit for increasing research activities) is amended by
striking subsection (h).
(b) Conforming Amendment.--Paragraph (1) of section 45C(b) of such
Code is amended by striking subparagraph (D).
(c) Effective Date.--The amendments made by this section shall
apply to amounts paid or incurred after the date of the enactment of
this Act.
SEC. 4. TREATMENT OF QUALIFIED RESTAURANT PROPERTY, QUALIFIED RETAIL
IMPROVEMENT PROPERTY, AND CERTAIN SYSTEMS INSTALLED IN
NONRESIDENTIAL BUILDINGS AS 15-YEAR PROPERTY FOR PURPOSES
OF DEPRECIATION DEDUCTION.
(a) Qualified Restaurant Property.--Clause (v) of section
168(e)(3)(E) of the Internal Revenue Code of 1986 (defining 15-year
property) is amended by striking ``placed in service before January 1,
2006''.
(b) Qualified Retail Improvement Property and Certain Systems
Installed in Nonresidential Buildings.--
(1) 15-year recovery period.--Subparagraph (E) of section
168(e)(3) of the Internal Revenue Code of 1986 (relating to 15-
year property) is amended by striking ``and'' at the end of
clause (vii), by striking the period at the end of clause
(viii) and inserting a comma, and by adding at the end the
following new clauses:
``(ix) any qualified retail improvement
property, and
``(x) any property--
``(I) which is part of a heating,
ventilation, air conditioning, or
commercial refrigeration system,
``(II) which is installed on or in
a building which is nonresidential real
property, and
``(III) the original use of which
commences with the taxpayer.''.
(2) Definition.--Section 168(e) of such Code (relating to
classification of property) is amended by adding at the end the
following new paragraph:
``(8) Qualified retail improvement property.--
``(A) In general.--The term `qualified retail
improvement property' means any improvement to an
interior portion of a building which is nonresidential
real property if--
``(i) such portion is open to the general
public,
``(ii) such portion is used by a trade or
business that sells tangible personal property
or services to the general public,
``(iii) such trade or business employs an
annual average of not more than 50 employees,
and
``(iv) such improvement is placed in
service more than 3 years after the date the
building was first placed in service.
``(B) Certain improvements not included.--Such term
shall not include any improvement for which the
expenditure is attributable to--
``(i) the enlargement of the building,
``(ii) any elevator or escalator, or
``(iii) the internal structural framework
of the building.''.
(3) Requirement to use straight line method.--Paragraph (3)
of section 168(b) of such Code (relating to applicable
depreciation method) is amended by adding at the end the
following new subparagraphs:
``(I) Qualified retail improvement property
described in subsection (e)(8).
``(J) Property described in subsection
(e)(3)(E)(x).''.
(4) Alternative system.--The table contained in section
168(g)(3)(B) of such Code (relating to special rule for certain
property assigned to classes) is amended by inserting after the
item relating to subparagraph (E)(viii) the following new
items:
``(E)(ix).................................................. 39
(E)(x)..................................................... 25''.
(c) Effective Date.--The amendments made by this section shall
apply to property placed in service after the date of the enactment of
this Act.
SEC. 5. AUTHORIZATIONS.
(a) Advanced Technology Program.--There are authorized to be
appropriated to the Secretary of Commerce for the Advanced Technology
Program under section 28 of the National Institute of Standards and
Technology Act (15 U.S.C. 278n) $140,000,000 for fiscal year 2007 and
$145,000,000 for fiscal year 2008.
(b) SCORE.--There are authorized to be appropriated for the Service
Corps of Retired Executives (SCORE) under section 8(b)(1)(B) of the
Small Business Act (15 U.S.C. 637(b)(1)(B) $7,500,000 for fiscal year
2007 and $8,000,000 for fiscal year 2008.
(c) Small Business Development Centers.--There are authorized to be
appropriated for small business development centers under section 21 of
the Small Business Act (15 U.S.C. 648) $137,500,000 fiscal year 2007
and $140,000,000 for fiscal year 2008.
(d) Manufacturing Extension Partnership.--There are authorized to
be appropriated to the Secretary of Commerce for the Manufacturing
Extension Partnership program under sections 25 and 26 of the National
Institute of Standards and Technology Act (15 U.S.C. 278k and 278l)
$115,000,000 for fiscal year 2007 and $120,000,000 for fiscal year
2008.
(e) Women's Business Centers.--There are authorized to be
appropriated for the Women's Business Center Program under section 29
of the Small Business Act (15 U.S.C. 656) $15,000,000 for fiscal year
2007 and $15,500,000 for fiscal year 2008.
SEC. 6. SENSE OF CONGRESS ON FUNDING FOR SMALL BUSINESS PROGRAMS.
(a) Funding for 7(a) Loan Program.--It is the sense of Congress
that Congress should appropriate $79,000,000 for offsetting the cost of
borrowers participating in the loan program under section 7(a) of the
Small Business Act (15 U.S.C. 636(a)).
(b) Funding for Other Programs.--It is the sense of Congress that
Congress should appropriate funds for the Advanced Technology Program,
the Service Corps of Retired Executives, the Small Business Development
Centers, the Manufacturing Extension Partnership, and the Women's
Business Center Program at the levels authorized under section 4 of
this Act.
SEC. 7. MARKET-BASED ADJUSTMENT IN ANNUAL H-1B AND H-2B NONIMMIGRANT
NUMERICAL LIMITATIONS.
Section 214(g) of the Immigration and Nationality Act (8 U.S.C.
1184(g)) is amended--
(1) in paragraph (1)--
(A) in the matter preceding subparagraph (A), by
striking ``(beginning with fiscal year 1992)'';
(B) in subparagraph (A)--
(i) in clause (vi), by striking ``and'' at
the end;
(ii) in clause (vii), by striking
``succeeding fiscal year; or'' and inserting
``of fiscal years 2004, 2005, and 2006; and'';
and
(iii) by inserting after clause (vii) the
following new clause:
``(viii) 85,000 in each fiscal year beginning with
fiscal year 2007, except as provided in paragraph (12);
or''.
(C) by striking subparagraph (B) and inserting the
following subparagraph:
``(B) under section 101(a)(15)(H)(ii)(b) may not exceed--
``(i) 66,000 in each fiscal year before fiscal year
2007; and
``(ii) 85,000 in each fiscal year beginning with
fiscal year 2007, subject to paragraph (10) and except
as provided in paragraph (12)(D).'';
(2) in paragraph (10)--
(A) by striking ``limitations of paragraph (1)(B)
shall be allocated for a fiscal year so that the total
number of aliens subject to such numerical limits'' and
inserting ``limitation of paragraph (1)(B) shall be
allocated to the greatest extent practicable for a
fiscal year so that the total number of aliens subject
to such numerical limit''; and
(B) by striking ``33,000'' and inserting ``50
percent of the number determined under such
paragraph''; and
(3) by adding at the end the following new paragraph:
``(12)(A) If, as of a date before September 30 of a fiscal year
(beginning with fiscal year 2007), the total number of aliens who have
been issued visas or have otherwise been provided nonimmigrant status
under subparagraph (A) of paragraph (1) reaches the adjusted numerical
limitation (as defined in subparagraph (C)) for the fiscal year, the
numerical limitation under such subparagraph for the remainder of the
fiscal year and the numerical limitation under such subparagraph for
the subsequent fiscal year shall be adjusted as follows: If the date
the adjusted numerical limitation was reached is in--
``(i) the first quarter of such fiscal year, the
numerical limitation for the fiscal year shall be
increased by 20 percent of the adjusted numerical
limitation of the fiscal year and the numerical
limitation for the subsequent fiscal year shall be
equal to 120 percent of the adjusted numerical
limitation for the fiscal year before such subsequent
fiscal year;
``(ii) the second quarter of such fiscal year, the
numerical limitation for the fiscal year shall be
increased by 15 percent of the adjusted numerical
limitation of the fiscal year and the numerical
limitation for the subsequent fiscal year shall be
equal to 115 percent of the adjusted numerical
limitation for the fiscal year before such subsequent
fiscal year; or
``(iii) the third or fourth quarter of such fiscal
year, the numerical limitation for the fiscal year
shall be increased by 10 percent of the adjusted
numerical limitation of the fiscal year and the
numerical limitation for the subsequent fiscal year
shall be equal to 110 percent of the adjusted numerical
limitation for the fiscal year before such subsequent
fiscal year.
``(B) If, as of September 30 of each fiscal year (beginning with
fiscal year 2008), the total number of aliens who have been issued
visas or have otherwise been provided nonimmigrant status under
subparagraph (A) of paragraph (1) is less than the adjusted numerical
limitation for the fiscal year, and if such shortfall is not due solely
to administrative causes, including processing delays or delays in
promulgating regulations, the numerical limitation under such
subparagraph for the subsequent fiscal year shall be equal to 90
percent of the adjusted numerical limitation for the fiscal year before
such subsequent fiscal year.
``(C) For purposes of this paragraph, the term `adjusted numerical
limitation' means, with respect to a fiscal year, the numerical
limitation specified in paragraph (1)(A) for the fiscal year as
adjusted under subparagraphs (A) and (B) as of October 1 of the fiscal
year.
``(D) The provisions of subparagraphs (A) through (C) shall apply
with respect to subparagraph (B) of paragraph (1) for a fiscal year in
the same manner as they apply to subparagraph (A) of such paragraph for
such fiscal year.''.
SEC. 8. SMALL BUSINESS CONTRACTING GOAL.
(a) Application to Contracts Performed Overseas.--Section 15(g)(1)
of the Small Business Act (15 U.S.C.) is amended in the second sentence
by inserting ``(including awards for contracts performed outside the
United States)'' after ``all prime contract awards''.
(b) Effective Date.--The amendment made by subsection (a) shall
apply with respect to fiscal years beginning after September 30, 2006.
<all>
Introduced in House
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, the Judiciary, and Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, the Judiciary, and Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, the Judiciary, and Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, the Judiciary, and Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, the Judiciary, and Science, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Environment, Technology, and Standards.
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Sponsor introductory remarks on measure. (CR H3487-3488)