US HB6629 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on April 28 2020 - 25% progression, died in committee
Action: 2020-04-28 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Allows employers a employment tax credit for qualified bonuses paid to their employees after March 12, 2020, and before January 1, 2021. The credit is equal to 50% of such bonuses paid in a calendar quarter taking into account not more than $25,000 for any employee for all calendar quarters. The bill defines qualified bonus as wages paid to an employee that include overtime or hazardous pay, supplemental payments made for the convenience of the employer, payments to retain staff at essential facilities, or other payments made to employees due to extraordinary businesses and economic conditions.

Tracking Information

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Title

Patriot Bonus Tax Credit Act of 2020

Sponsors


History

DateChamberAction
2020-04-28HouseReferred to the House Committee on Ways and Means.
2020-04-28HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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