HR 8083
116th Congress
House
Taxation
Economic performance and conditions
Employee benefits and pensions
Income tax credits
Unemployment
Preserving Employee Retirement Savings Act of 2020
Introduced: August 21, 2020
Introduced by:
Schneider, Bradley Scott
Democratic
· Illinois
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 21, 2020
Referred to the House Committee on Ways and Means.
Aug 21, 2020
Introduced in House
Plain-English summary
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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1