HR 1663
112th Congress
House
Taxation
Employee hiring
Income tax credits
Small business
Unemployment
To amend the Internal Revenue Code of 1986 to temporarily provide the work opportunity tax credit for small businesses hiring unemployed individuals.
Introduced: April 15, 2011
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 15, 2011
Referred to the House Committee on Ways and Means.
Apr 15, 2011
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to allow certain small businesses with gross receipts in the preceding taxable year not exceeding $20 million a work opportunity tax credit for hiring individuals who have been receiving state unemployment compensation for not less than 4 weeks in the 1-year period ending on the hiring date. Increases the amount of wages eligible for such credit from $6,000 to $12,000 for the hiring of individuals in a high unemployment zone (a county that has an unemployment rate exceeding the greater of 4% or the national unemployment rate). Terminates such credit after December 31, 2013.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1