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S 240 109th Congress Senate Taxation Armed Forces and National Security Armed forces reserves Commerce Income tax Iraq compilation Labor and Employment Manufacturing industries Replacement workers Self-employed Small business Tax credits Temporary employment Wages

Small Business Military Reservist Tax Credit Act

Introduced: February 1, 2005 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 1, 2005
Read twice and referred to the Committee on Finance.
Feb 1, 2005
Sponsor introductory remarks on measure. (CR S747-749)
Feb 1, 2005
Introduced in Senate
 Plain-English summary Congressional Research Service

Small Business Military Reservist Tax Credit Act - Amends the Internal Revenue Code to allow: (1) certain small business employers (50 or fewer employees) and small manufacturers (100 or fewer employees) a tax credit for a percentage of the differential between the average daily civilian compensation and average daily military pay and allowances of their military reservist employees who are called to active duty; (2) such employers a tax credit for the hiring of temporary replacement employees; and (3) self-employed military reservists a comparable tax credit for a percentage of the differential between their average daily self-employment income and their average daily military pay and allowances.

Denies a tax credit: (1) to employers who fail to comply with employment or reemployment rights of military reservists; and (2) for employees who are called to active duty for training.

What's happening now February 1, 2005

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2