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| − | ==Innovation Promotion Act== | + | ==Information on Bills Proposed to the United States Congress== |
| − | The "Innovation Promotion Act of 2015" was released as a discussion draft on July 31, 2015. The act promotes a reduction of taxes to 10% for income from intellectual property. It also proposes qualifying tax distributions of qualifying intellectual property from a controlled foreign corporation to the US parent company. This act is indicative of the United States' effort to attract and foster more innovation and research.
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| − | ==Feedback on the Innovation Promotion Act==
| + | {{:The Bill Process}} |
| − | *[[Feedback on the Innovation Promotion Act]]
| + | For more information on the United States Bill process please refer to: [[The Bill Process]] |
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| − | ==Legislation== | + | ==Policy Landscape== |
| − | In the United States, all bills originating in the House of Representatives begin with "H.R." and all bills originating from the Senate begin with an "S."
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| − | Joint resolutions also have the same effect as bills, and are titled as "H. J. Res." or "S. J. Res." depending on whether they originated in the House or Senate, respectively. This means that two different bills can have the same number. In the United States Congress, a joint resolution is a legislative measure that requires approval by the Senate and the House and is presented to the President for his approval or disapproval. However, joint resolutions used to propose amendments to the United States Constitution do not require the approval of the President. Generally, there is no legal difference between a joint resolution and a bill. Both must be passed, in exactly the same form, by both chambers of Congress, and then must — with one exception — be presented to the President and signed by him/her (or, re-passed in override of a presidential veto; or, remain unsigned for ten days while Congress is in session) to become a law. Laws enacted by virtue of a joint resolution are not distinguished from laws enacted by a bill, except that they are designated as resolutions as opposed to acts.
| + | '''Policy Overview''' |
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| − | ==Acts reported on by the Senate Committee on Small Business and Entrepreneurship==
| + | {{:Summary of Policies}} |
| − | The following pieces of legislation in 2015 were found from http://www.GovTrack.us:
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| − | *[https://www.govtrack.us/congress/bills/114/s1400/text S. 1400] / [https://www.govtrack.us/congress/bills/114/hr2221/text H.R. 2221]: Veterans Small Business Enhancement Act of 2015 | + | '''Current US Entrepreneurship Policy''' |
| − | ** Amends the Small Business Act to direct the task force of the Office of Veterans Business Development to provide access to and manage the distribution of excess or surplus property to veteran-owned small businesses
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| − | * [https://www.govtrack.us/congress/bills/114/s2116/text S. 2116]: Small Business Broadband and Emerging Information Technology Enhancement Act of 2015
| + | *The Senate Committee on Small Business and Entrepreneurship |
| − | **Improves certain programs of the Small Business Administration to better assist small business customers in accessing broadband technology
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| − | *[https://www.govtrack.us/congress/bills/114/s552/text S. 552] / [https://www.govtrack.us/congress/bills/114/hr1023/text H.R. 1023]: Small Business Investment Capital Company Act of 2015
| + | Most of the bills reported/introduced by the U.S. Congress pertaining to innovation and entrepreneurship are reported on by the Senate Committee on Small Business and Entrepreneurship. The U.S. Senate Committee on Small Business and Entrepreneurship is a standing committee of the United States Senate. The committee has jurisdiction over the [https://en.wikipedia.org/wiki/Small_Business_Administration Small Business Administration] and is also charged with researching and investigating all problems of American small business enterprises. The current Chairman of the Committee is U.S. Senator David Vitter. Other information on the Committee on Small Business and Entrepreneurship, including Committee members and recent pieces of legislation, can be found on their [http://www.sbc.senate.gov/public/index.cfm?p=Home. website] |
| − | **Amends the Small Business Investment Act of 1958 to increase the maximum amount of outstanding leverage provided by the Small Business Administration to two or more commonly controlled small business investment companies not under capital impairment from $225 million to $350 million
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| − | *[https://www.govtrack.us/congress/bills/114/s552/text S. 996] / [https://www.govtrack.us/congress/bills/114/hr2266/text H.R.2266]: Commercial Real Estate and Economic Development Act of 2015
| + | *Acts Reported on by the Senate Committee on Small Business and Entrepreneurship |
| − | **Reinstates the authority for Small Business Administration low-interest refinancing of small business debt not involving business expansion under the SBA's local development business loan program
| + | {{:Acts Reported on by the Senate Committee on Small Business and Entrepreneurship}} |
| − | **Effective: on and after enactment of this Act, and during any fiscal year in which the federal government's cost in making loan guarantees under such program is zero.
| + | [[Acts Reported on by the Senate Committee on Small Business and Entrepreneurship]] |
| − | **Repeals a provision of the Small Business Jobs Act of 2010 that terminated such authority as of September 27, 2012.
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| − | *[https://www.govtrack.us/congress/bills/114/s1470/text S. 1470]: Recovery Improvements for Small Entities After Disaster Act of 2015
| + | '''Current US Innovation Policy''' |
| − | **Amends the Small Business Act to provide additional assistance to small business concerns for disaster recovery, and for other purposes. | + | |
| − | *[https://www.govtrack.us/congress/bills/114/s1292/text S. 1292]: HUBZone Revitalization Act of 2015
| + | *[[:Innovation Promotion Act|Innovation Promotion Act]] |
| − | **Amends the Small Business Act to treat certain qualified disaster areas as HUBZones and to extend the period for HUBZone treatment for certain base closure areas, and for other purposes.
| + | The "Innovation Promotion Act of 2015" was released as a discussion draft on July 31, 2015. The act promotes a reduction of taxes to 10% for income from intellectual property. It also proposes qualifying tax distributions of qualifying intellectual property from a controlled foreign corporation to the US parent company. This act is indicative of the United States' effort to attract and foster more innovation and research. There has also been extensive [[:Feedback on the Innovation Promotion Act| feedback]] on the innovation promotion act. |
| − | *[https://www.govtrack.us/congress/bills/114/s999/text S.999] / [https://www.govtrack.us/congress/bills/114/hr207/text H.R. 207]: Small Business Development Centers Improvement Act of 2015
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| − | **Amends the Small Business Act with respect to the authority of the Small Business Administration to use certain SBA programs, including the small business development center (SBDC) program, to provide grants, financial assistance, loans, export assistance, and subcontracting opportunities on federal contracts to specified small businesses, organizations, state governments, universities, companies, and other entities that assist smaller enterprises.
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| − | **Declares that the SBA shall only use such programs to deliver entrepreneurial development services, entrepreneurial education, support for the development and maintenance of clusters, or business training.
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| − | *[https://www.govtrack.us/congress/bills/114/s1756/text S. 1756]: Small Business Energy Efficiency Act of 2015 | |
| − | **Amends the Small Business Investment Act of 1958 to allow a state development company to use the economic development objective of helping small businesses achieve savings through energy efficiency to qualify for loan assistance.
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| − | *[https://www.govtrack.us/congress/bills/114/sres252/text S. Res. 252]: An original resolution expressing the sense of the Committee on Small Business and Entrepreneurship of the Senate relating to easing the burden of Federal tax compliance on small businesses
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| − | **Amends provisions of the Internal Revenue Code relating to the taxation of small business entities.
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| − | *[https://www.govtrack.us/congress/bills/114/s2126/text S. 2126]: Women’s Small Business Ownership Act of 2015
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| − | **Amends the Small Business Act to direct the Small Business Administration Office of Women's Business Ownership to address issues concerning specified disciplines required for starting, operating, and increasing a small business.
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| − | *[https://www.govtrack.us/congress/bills/114/s957/text S. 957] / [https://www.govtrack.us/congress/bills/114/hr2499/text H.R. 2499] : Veterans Entrepreneurship Act
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| − | **Increases access to capital for veteran entrepreneurs to help create jobs
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| − | *[https://www.govtrack.us/congress/bills/114/s2136/text S. 2136]: Improving Small Business Innovative Research and Technologies Act of 2015
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| − | **Establishes the Regional SBIR State Collaborative Initiative Pilot Program
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Information on Bills Proposed to the United States Congress
In the United States, a bill is a proposed piece of legislation to be considered by the legislature. Specifically, entities ranging from corporations, citizens, special interest groups, and anything in between, can propose an idea for a bill to a legislator. A bill must be approved by the U.S. House of Representatives,the U.S Senaten, and in the federal case, the Executive Branch in order to become a law. If a bill is enacted into law, it is then formally reassigned as an Act or a statute.
For more information on the United States Bill process please refer to: The Bill Process
Policy Landscape
Policy Overview
There have been 7,430 bills proposed by the 114th Congress in 2015 thus far; out of these 7,430 bills, 103 are related to entrepreneurship or contain the word "entrepreneurship," making the percentage of entrepreneurship-related bills out of all proposed bills only 1.386%.
Current US Entrepreneurship Policy
- The Senate Committee on Small Business and Entrepreneurship
Most of the bills reported/introduced by the U.S. Congress pertaining to innovation and entrepreneurship are reported on by the Senate Committee on Small Business and Entrepreneurship. The U.S. Senate Committee on Small Business and Entrepreneurship is a standing committee of the United States Senate. The committee has jurisdiction over the Small Business Administration and is also charged with researching and investigating all problems of American small business enterprises. The current Chairman of the Committee is U.S. Senator David Vitter. Other information on the Committee on Small Business and Entrepreneurship, including Committee members and recent pieces of legislation, can be found on their website
- Acts Reported on by the Senate Committee on Small Business and Entrepreneurship
Officially established on October 8, 1940, the Senate Committee on Small Business and Entrepreneurship was established to analyze and identify problems of small businesses. The committee oversees the operations of the Small Business Administration, an agency responsible for providing support to both entrepreneurs and small businesses. Ten republicans and nine democrats form the current membership of the special committee. Some of the major issues the committee attempts to alleviate for small businesses include, but are not limited to: capital accessibility, business development hurdles, contracting and associated complications, and underrepresented entrepreneur populations. An overview of the current policies in disucssion can be found here:
Acts Reported on by the Senate Committee on Small Business and Entrepreneurship
Current US Innovation Policy
The "Innovation Promotion Act of 2015" was released as a discussion draft on July 31, 2015. The act promotes a reduction of taxes to 10% for income from intellectual property. It also proposes qualifying tax distributions of qualifying intellectual property from a controlled foreign corporation to the US parent company. This act is indicative of the United States' effort to attract and foster more innovation and research. There has also been extensive feedback on the innovation promotion act.
