# 114-hr-4608: SAVE for Small Businesses Act

114-hr-4608, SAVE for Small Businesses Act, is a 114th Congress bill sponsored by STEVE ISRAEL (D-NY); status Referred to the House Committee on Ways and Means. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/114-hr-4608
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 114-hr-4608
- Congress: 114
- Title: SAVE for Small Businesses Act
- Status: Referred to the House Committee on Ways and Means.
- Introduced: 2016-02-24
- Sponsor: STEVE ISRAEL (D-NY)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

SAVE for Small Businesses Act or the Savings Accounts for a Variable Economy for Small Businesses Act This bill amends the Internal Revenue Code to: (1) provide for tax-exempt small business savings accounts, and (2) allow tax deductible contributions to such accounts of not more than 10% of the gross profits of an eligible small business (a business employing an average of 50 or fewer full-time employees) for the preceding taxable year. The bill excludes qualified distributions from such accounts from gross income for income tax purposes. A "qualified distribution" is: (1) any amount that is distributed from a small business savings account during a specified period of economic hardship, and (2) the distribution of which is certified as being part of a plan that provides for the reinvestment of such distribution for the funding of worker hiring or financial stabilization for the purposes of job retention or creation. The Secretary of the Treasury shall: (1) establish minimum standards for small business savings accounts that seek to minimize fees and risk of loss of principal, and (2) ensure a range of investment risk options available to account beneficiaries.

## Related bills

- 114-hr-6421: Anti-Semitism Awareness Act of 2016
- 114-hr-6398: To amend the Small Business Act to provide for the inclusion of unmarried women in the criteria for awarding a grant to a women's business center.
- 114-hr-6332: National Hate Crimes Hotline Act of 2016
- 114-hr-6259: Protecting Our Kids' Medicine Act of 2016
- 114-hr-6231: Making College More Affordable Act
- 114-hr-6208: Combating European Anti-Semitism Act of 2016

## Sources
- [114-hr-4608 on Congress.gov](https://www.congress.gov/bill/114th-congress/house-bill/4608)

## Related
- [114-hr-6421: Anti-Semitism Awareness Act of 2016](https://policyrisk.com/legislation/114-hr-6421)
- [114-hr-6398: To amend the Small Business Act to provide for the inclusion of unmarried women…](https://policyrisk.com/legislation/114-hr-6398)
- [114-hr-6332: National Hate Crimes Hotline Act of 2016](https://policyrisk.com/legislation/114-hr-6332)
- [114-hr-6259: Protecting Our Kids' Medicine Act of 2016](https://policyrisk.com/legislation/114-hr-6259)
- [114-hr-6231: Making College More Affordable Act](https://policyrisk.com/legislation/114-hr-6231)
- [114-hr-6208: Combating European Anti-Semitism Act of 2016](https://policyrisk.com/legislation/114-hr-6208)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/114-hr-4608 (as of 2025-11-18).