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HR 7407 118th Congress House Taxation

Small Business Dependent Care FSA Opportunity Act

Introduced: February 16, 2024 Introduced by: Smith, Adrian Republican · Nebraska See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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
Feb 16, 2024
Referred to the House Committee on Ways and Means.
Feb 16, 2024
Introduced in House
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 Plain-English summary Congressional Research Service

Small Business Dependent Care FSA Opportunity Act 

This bill allows certain small employers (employers with no more than 100 employees who received $5,000 in compensation from an employer) a new three-year tax credit for the startup costs of dependent care flexible spending plans. The amount of the credit is equal to the greater of $500 or the lesser of $250 for each eligible employee, or $5,000.  

 

What's happening now February 16, 2024

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
D
Davis, Danny K.
Illinois · Feb 16, 2024
 R
Feenstra, Randy
Iowa · Feb 16, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7407: Small Business Dependent Care FSA Opportunity Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-7407/
MLA
"H.R. 7407: Small Business Dependent Care FSA Opportunity Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-7407/.
Bluebook (legal)
H.R. 7407, 118th Cong. (2026), https://openamerica.io/bill/118-HR-7407/.
Markdown link
[H.R. 7407: Small Business Dependent Care FSA Opportunity Act](https://openamerica.io/bill/118-HR-7407/)
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