H.R. 615 · 117th Congress
Keeping the Lights On Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ThompsonSponsor3 cosponsors · 2 D, 1 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill 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.
What it does: CRS summary · Introduced in House · Jan 28, 2021
Keeping the Lights On Act of 2021
This bill 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 that 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Keeping the Lights On Act of 2021
Latest action (Jan 28, 2021): 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.
Policy area: Taxation · Origin: House · Introduced: Jan 28, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.