PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7094-7095)
Congressional Research Service
Version 00 · Introduced in Senate · Jun 25, 2009
Small Business Tax Relief Act of 2009 - Amends Internal Revenue Code provisions relating to small business to: (1) increase and make permanent the election to expense small business assets, including computer software, in the current taxable year; (2) reduce graduated tax rates for corporations with taxable incomes of less than $10 million; (3) exempt income attributable to business tax credits from the alternative minimum tax (AMT); (4) allow five-year carrybacks for business tax credits and small business net operating losses; (5) allow an enhanced tax deduction for income attributable to small business domestic production activities; (6) reduce to five years the recognition period for the built-in gains of S corporations; (7) exclude from gross income all gain from the sale of certain small business stock before 2011; and (8) allow a deduction from the income of self-employed individuals for health insurance costs.
People & committees
Sen. Grassley, Chuck [R-IA] · R–IA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7094-7095)
Sponsor introductory remarks on measure. (CR S7091-7094)
Introduced in Senate
Primary sources
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Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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