H.R. 8083 · 116th Congress
Preserving Employee Retirement Savings Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
SchneiderSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill allows an employer that has a temporary substantial business hardship and, if not a tax-exempt or cooperative organization, does not have more that $41.5 million in gross receipts a tax credit for 20% of retirement contributions made to employee retirement accounts.
What it does: CRS summary · Introduced in House · Aug 21, 2020
Preserving Employee Retirement Savings Act of 2020
This bill allows an employer that has a temporary substantial business hardship and, if not a tax-exempt or cooperative organization, does not have more that $41.5 million in gross receipts a tax credit for 20% of retirement contributions made to employee retirement accounts. The amount of such credit for any employer may not exceed $100,000 in any taxable year.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Preserving Employee Retirement Savings Act of 2020
Latest action (Aug 21, 2020): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Aug 21, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.