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HR 524 117th Congress House Taxation Income tax credits Small business Social work, volunteer service, charitable organizations Tax-exempt organizations

Restore America’s Main Street Act of 2021

Introduced: January 28, 2021 Introduced by: Dean, Madeleine Democratic · Pennsylvania See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 28, 2021
Referred to the House Committee on Ways and Means.
Jan 28, 2021
Introduced in House
 Plain-English summary Congressional Research Service

Restore America's Main Street Act of 2021

This bill provides a small business with $1.5 million or less in gross receipts and not more than 50 full-time employees a refundable tax credit (rebate) equal to the lesser of 30% of its gross receipts for the first taxable year beginning in 2021, or $120,000. The credit is also available to certain charitable organizations.

What's happening now January 28, 2021

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1