To provide exporting assistance to small business concerns, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Enhancing Exports Through Entrepreneurship Act of 2012''.
SEC. 2. SMALL BUSINESS TAX CREDIT FOR COSTS ASSOCIATED WITH EXPANDING EXPORT MARKETS.
(a) In General.--Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:
``SEC. 45S. CREDIT FOR SMALL BUSINESS COSTS OF EXPANDING EXPORT MARKETS.
``(a) In General.--For purposes of section 38, in the case of a qualified small business, the small business export expansion credit for any taxable year is an amount equal to 25 percent of the export expansion expenses of the taxpayer paid or incurred during the taxable year. ``(b) Export Expansion Expenses.--For purposes of this section, the term `export expansion expenses' means amounts paid or incurred by the taxpayer for the purpose of increasing the amount of goods sold for consumption, or services provided, outside the United States. Such term shall not include the cost of goods sold (and similar amounts with respect to services provided). ``(c) Qualified Small Business.--For purposes of this section, the term `qualified small business' means a small business concern within the meaning of section 3 of the Small Business Act.''. (b) Credit To Be Part of General Business Credit.-- (1) In general.--Subsection...