Establishes tax incentives for small business savings accounts, exempting contributions and distributions from tax during economic hardship.

The bill creates a program for small business savings accounts, offering tax incentives for contributions and distributions. Contributions to these accounts are tax-deductible, and distributions are exempt from tax if used during specified periods of economic hardship. The accounts are intended to help small businesses stabilize finances, retain jobs, or create new ones. The bill defines "small business" as an entity with an annual average of 25 or fewer full-time employees and an annual net income under $250,000.

Establishes tax incentives for small business savings accounts, exempting contributions and distributions from tax during economic hardship.

The bill creates a program for small business savings accounts, offering tax incentives for contributions and distributions. Contributions to these accounts are tax-deductible, and distributions are exempt from tax if used during specified periods of economic hardship. The accounts are intended to help small businesses stabilize finances, retain jobs, or create new ones. The bill defines "small business" as an entity with an annual average of 25 or fewer full-time employees and an annual net income under $250,000.