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
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
Plain-English summary
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
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1