H.R. 1737
Manufacturing Reinvestment Account Act of 2013
Referred to the House Committee on Ways and Means.
Sponsor
Rep. DeLauro, Rosa L. [D-CT-3]
Bill Details
- Update Date
- Sep 27, 2021
- Origin Chamber
- House
- Bill Type
- HR
- Bill Number
- 1,737
- Congress
- 113
- Introduced Date
- Apr 25, 2013
- Policy Area
- Taxation
- Is Law
- No
Referred to the House Committee on Ways and Means.
Source: House floor actions
Introduced in House
Source: Library of Congress
Introduced in House
Source: Library of Congress
Manufacturing Reinvestment Account Act of 2013 - Amends the Internal Revenue Code to establish tax-exempt manufacturing reinvestment accounts (MRAs) for taxpayers engaged in a manufacturing business. Allows such manufacturers to make tax deductible cash payments into an MRA of the lesser of their domestic manufacturing gross receipts for the taxable year or $500,000. Permits expenditures from an MRA for expenses for property to be used in the manufacturing business and expenses for employee job training and workforce development. Imposes a 10% tax on amounts in an MRA that are not distributed within 7 years. Terminates the tax deduction for payments to an MRA 10 years after the enactment of this Act.
Ways and Means Committee
Introduced in House
Apr 25, 2013