S. 538 · 110th Congress
Work, Hope, and Opportunity for the Disaster Area Today Act
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LandrieuSponsorNo cosponsors.
Work, Hope, and Opportunity for the Disaster Area Today Act - Allows small business employers (employers of not more than 100 full time employees) in specified areas of the Gulf Opportunity (GO) Zone to claim a credit against the employment tax liabilities of their GO Zone employees.
What it does: CRS summary · Introduced in Senate · Feb 8, 2007
Work, Hope, and Opportunity for the Disaster Area Today Act - Allows small business employers (employers of not more than 100 full time employees) in specified areas of the Gulf Opportunity (GO) Zone to claim a credit against the employment tax liabilities of their GO Zone employees. Limits to $15,000 per employee the amount of wages eligible for such credit in any calendar quarter.
Amends the Internal Revenue Code to allow a full tax deduction for business meal and entertainment expenses (normally, only 50% of such expenses are deductible) incurred in specified areas of the GO Zone prior to January 1, 2010.
Extends through 2009: (1) the increased expensing allowance for GO Zone investment property; and (2) the work opportunity tax credit for hiring Hurricane Katrina employees.
Extends through 2008 provisions allowing accelerated depreciation of qualified leasehold, restaurant, and retail improvement property located in specified areas of the GO Zone.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Work, Hope, and Opportunity for the Disaster Area Today Act
Latest action (Feb 8, 2007): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1793-1795)
Policy area: Taxation · Origin: Senate · Introduced: Feb 8, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.