# 114-hr-5783: Small Business Start-up Savings Accounts Act of 2016

114-hr-5783, Small Business Start-up Savings Accounts Act of 2016, is a 114th Congress bill sponsored by Rep. Sewell, Terri A. [D-AL-7] (D-AL); status Referred to the House Committee on Ways and Means. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/114-hr-5783
- 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-5783
- Congress: 114
- Title: Small Business Start-up Savings Accounts Act of 2016
- Status: Referred to the House Committee on Ways and Means.
- Introduced: 2016-07-14
- Sponsor: Rep. Sewell, Terri A. [D-AL-7] (D-AL)
- Cosponsors: 2
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Small Business Start-up Savings Accounts Act of 2016 This bill amends the Internal Revenue Code to provide for tax-preferred Small Business Start-up Savings Accounts to pay for trade or business expenses, including the purchase of equipment or facilities, marketing, training, incorporation, and accounting fees. The bill allows annual nondeductible contributions to such accounts of up to $10,000, subject to a $150,000 limit on total contributions to the account and adjustments for inflation after 2017. The bill sets forth rules for the tax treatment of contributions to and rollovers or distributions from the accounts, similar to rules governing individual retirement accounts (IRAs). Qualified distributions from the accounts are excluded from gross income.

## Cosponsors (2)

- Rep. Cicilline, David N. [D-RI-1] (D-RI), 2016-07-14T00:00:00.000Z
- CORRINE BROWN (D-FL), 2016-07-14T00:00:00.000Z

## Related bills

- 114-hr-6072: Election Integrity Act of 2016
- 114-hr-5130: SIMARRA Act
- 114-hr-5044: Making supplemental appropriations for fiscal year 2016 to respond to Zika virus.
- 114-hr-5025: 2016 Tax Day Floods Supplemental Funding Act
- 114-hr-4626: BRACE Act
- 114-hr-4592: Naismith Memorial Basketball Hall of Fame Commemorative Coin Act

## Sources
- [114-hr-5783 on Congress.gov](https://www.congress.gov/bill/114th-congress/house-bill/5783)

## Related
- [114-hr-6072: Election Integrity Act of 2016](https://policyrisk.com/legislation/114-hr-6072)
- [114-hr-5130: SIMARRA Act](https://policyrisk.com/legislation/114-hr-5130)
- [114-hr-5044: Making supplemental appropriations for fiscal year 2016 to respond to Zika viru…](https://policyrisk.com/legislation/114-hr-5044)
- [114-hr-5025: 2016 Tax Day Floods Supplemental Funding Act](https://policyrisk.com/legislation/114-hr-5025)
- [114-hr-4626: BRACE Act](https://policyrisk.com/legislation/114-hr-4626)
- [114-hr-4592: Naismith Memorial Basketball Hall of Fame Commemorative Coin Act](https://policyrisk.com/legislation/114-hr-4592)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/114-hr-5783 (as of 2025-11-18).