S 2087
107th Congress
Senate
Taxation
Business income tax
Commerce
Corporate collapse
Employee pensions
Finance and Financial Sector
Financial planning
Fringe benefits
Income tax
Investment advisers
Labor and Employment
Tax credits
A bill to amend the Internal Revenue Code of 1986 to allow employers a credit against income tax for the provision of independent investment advice to employees.
Introduced: April 10, 2002
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 10, 2002
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2489)
Apr 10, 2002
Sponsor introductory remarks on measure. (CR S2488-2489)
Apr 10, 2002
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to give employers a tax credit of 40% (60% in the case of a small employer) of the qualified independent investment advice services they provide in a taxable year to their employees. Limits to $50 the amount of services which may be taken into account annually per employee per firm and sets an annual maximum limit of $50,000 (when added to such credits allowed for all previous years) per employer.
Stipulates that investment advice shall not be considered valid unless such services are offered in a way that does not discriminate in favor of highly compensated employees.
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2489)
Committees of jurisdiction
1
Cosponsors
1