1. Short title This Act may be cited as the Support Our Start-Ups Act . 2. New business expenditures (a) In general Subsections (a) and (b) of section 195 of the Internal Revenue Code of 1986 are both amended by inserting and organizational after start-up each place it appears. (b) Organizational expenditures Subsection (c) of section 195 of such Code is amended by adding at the end the following new paragraph: (3) Organizational expenditures The term organizational expenditures means any expenditure which— (A) is incident to the creation of a corporation or a partnership, (B) is chargeable to capital account, and (C) is of a character which, if expended incident to the creation of a corporation or a partnership having a limited life, would be amortizable over such life. . (c) Dollar amounts Clause (ii) of section 195(b)(1)(A) of such Code is amended— (1) by striking $5,000 and inserting $20,000 ; and (2) by striking $50,000 and inserting $120,000 . (d) Amortization treatment Subparagraph (B) of section 195(b)(1) of such Code, as amended by subsection (a), is amended to read as follows: (B) the remainder of such start-up and organizational expenditures shall be charged to capital account and allowed as an amortization deduction determined by amortizing such expenditures ratably over the 15-year period beginning with the midpoint of the taxable year in which the active trade or business begins. . (e) Conforming amendments (1) Section 195(b)(1) of such Code is amended— (A) by inserting (or, in the case of a partnership, the partnership elects) after If a taxpayer elects ; and (B) by inserting (or the partnership, as the case may be) after the taxpayer in subparagraph (A). (2) Section 195(b)(2) of such Code is amended— (A) by striking amortization period.— In any case and inserting the following: amortization period.— (A) In general In any case