US HB6799 | 2019-2020 | 116th Congress

Status

Spectrum: Moderate Partisan Bill (Democrat 7-1)
Status: Introduced on May 12 2020 - 25% progression, died in committee
Action: 2020-05-12 - Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Allows an eligible employer a payroll tax credit equal to 50% of a limited amount of qualified fixed expenses paid by such employer in a calendar quarter. Qualified fixed expenses include a mortgage, rent, or a utility payment. An employer is eligible for such payroll credit if the employer was carrying on a trade or business in 2020 which had not more than 1,500 full-time employees or not more than $41.5 million in gross receipts in 2019. The employer's business must have been suspended in a calendar quarter due to COVID-19 (i.e., coronavirus disease 2019) and have experienced a significant decline in gross receipts due to that pandemic.. The credit may not be claimed by the federal government or by any state or tribal government, or by U.S. possessions, but may be claimed by tax-exempt organizations.

Tracking Information

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Title

Keeping the Lights On Act of 2020

Sponsors


History

DateChamberAction
2020-05-12HouseReferred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2020-05-12HouseReferred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2020-05-12HouseIntroduced in House

Same As/Similar To

HB6800 (Related) 2020-07-23 - Committee on Small Business and Entrepreneurship. Hearings held.

Subjects


US Congress State Sources


Bill Comments

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