Bill > S650

This bill, the Support Small Business R&D Act of 2017, aims to expand tax credit education and training for small businesses that engage in research and development. The key provisions of the bill are: 1. It requires the Small Business Administration (SBA), in consultation with the Internal Revenue Service (IRS), to develop partnership agreements to provide basic training and informational materials on federal income tax credits that benefit small businesses and startups, especially credits for research and experimentation. These materials will be made available through electronic resources and at physical locations, including small business development centers. 2. It amends the Small Business Act to require SBA development centers to provide, in conjunction with the IRS, informational materials, education, and basic training to small business concerns on federal income tax credits, including those available to businesses generally and those specifically for small businesses and startups, especially credits for research and experimentation. This training can be delivered in person or through an internet website. 3. It requires the SBA Administrator, in consultation with the IRS Commissioner, to submit a report to Congress describing how the SBA and IRS will provide outreach and educational materials to small businesses, medium-sized businesses, and startups on the amendments to the research and experimentation tax credit made by the Protecting Americans from Tax Hikes Act of 2015.

Business and Industry

https://www.congress.gov/bill/115th-congress/senate-bill/650/all-info