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S 3526 116th Congress Senate

Protecting Taxpayer's Return on Investment Act of 2020

Official title: A bill to restrict the authority of the Secretary of the Treasury to purchase or guarantee assets in response to the coronavirus disease (COVID-19) outbreak.

Introduced: March 18, 2020 Introduced by: Reed, Jack Democratic · Rhode Island See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBusiness expensesCardiovascular and respiratory healthCorporate finance and management
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Department of the TreasuryEmergency medical services and trauma careForeign and international corporationsGovernment lending and loan guaranteesIncome tax deductionsIncome tax deferralInfectious and parasitic diseasesSecuritiesWages and earnings
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 18, 2020
Read twice and referred to the Committee on Finance.
Mar 18, 2020
Introduced in Senate
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 Latest action March 18, 2020

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Protecting Taxpayer's Return on Investment Act of 2020

This bill sets forth requirements for the purchase or guarantee of a company's assets by the Department of the Treasury in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic. Specifically, as a condition of such a transaction, companies must provide a warrant (i.e., the right to purchase company stock in the future at a specified exercise price) or a senior debt instrument to Treasury. The exercise price for a warrant must be set by Treasury for the primary benefit of taxpayers.

Treasury is generally prohibited from purchasing or guaranteeing assets from an inverted domestic corporation (i.e., a domestic corporation that has been restructured to incorporate in a foreign jurisdiction for tax purposes) in response to COVID-19.

An entity receiving specified assistance in response to COVID-19 may not claim the trade or business expenses tax deduction for the amount an individual employee is compensated above $500,000.

 Related & companion bills 1
  • HR 6379 Related bill Workforce Emergency Response Act of 2020
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 3526: Protecting Taxpayer's Return on Investment Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-S-3526/
MLA
"S. 3526: Protecting Taxpayer's Return on Investment Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-3526/.
Bluebook (legal)
S. 3526, 116th Cong. (2026), https://openamerica.io/bill/116-S-3526/.
Markdown link
[S. 3526: Protecting Taxpayer's Return on Investment Act of 2020](https://openamerica.io/bill/116-S-3526/)
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