Loading…
Keeping the Lights On Act of 2020
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
0pct
0d open
vs 9,062 other HR bills in the 116th — cohort avg 39d
Keeping the Lights On Act of 2020 This bill allows an eligible employer a payroll tax credit equal to 50% of a limited amount of qualified fixed expenses paid by such employer in a calendar quarter. Qualified fixed expenses include a mortgage, rent, or a utility payment. An employer is eligible for such payroll credit if the employer was carrying on a trade or business in 2020 which had not more than 1,500 full-time employees or not more than $41.5 million in gross receipts in 2019. The employer's business must have been suspended in a calendar quarter due to COVID-19 (i.e., coronavirus disease 2019) and have experienced a significant decline in gross receipts due to that pandemic.. The credit may not be claimed by the federal government or by any state or tribal government, or by U.S. possessions, but may be claimed by tax-exempt organizations.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (1)
2020 · fourth_quarter · Taxation/Internal Revenue Code
S. 2942/H.R.7283 to provide that certain contributions by government entities are treated as contributions to capital - ALL S. 3814/H.R. 7481 RESTART ACT - ALL H.R. 7079 Clean Start Back to Work Act - ALL H.R. 6799 Keeping the Lights On Act - ALL H.R. 6800 HEROES Act, Division B Revenue Provisions, Title II - Additional Relief for Worker: Section 20211 Improvements to Employee Retention Credit; Section 20231 Payroll tax deferral for recipients of certain loan forgiveness; and Section 20235 Clarification of treatment of expenses paid or incurred with proceeds from certain loans and grants. Title III - Net operating Losses: Section 20302: Certain taxpayers allowed carryback of net operating losses arising in 2019 and 2020. S. 3612/H.R. 6821 Small Business Expense Protection Act - ALL Like-Kind Exchanges - maintaining current tax treatment of IRC Section 1031 - no bill Cancellation of Indebtedness income- no bill H.R. 8805 Retail Revitalization Act of 2020 - ALL H.R. 8930 Energy Efficient Qualified Improvement Property Act of 2020 (E-QUIP Act) - ALL
Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $450,000 · Firm income: Not reported
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2020 · third_quarter · Taxation/Internal Revenue Code
S. 2942/H.R.7283 to provide that certain contributions by government entities are treated as contributions to capital - ALL S. 3814/H.R. 7481 RESTART ACT - ALL H.R. 7079 Clean Start Back to Work Act - ALL H.R. 6799 Keeping the Lights On Act - ALL H.R. 6800 HEROES Act, Division B Revenue Provisions, Title II - Additional Relief for Worker: Section 20211 Improvements to Employee Retention Credit; Section 20231 Payroll tax deferral for recipients of certain loan forgiveness; and Section 20235 Clarification of treatment of expenses paid or incurred with proceeds from certain loans and grants. Title III - Net operating Losses: Section 20302: Certain taxpayers allowed carryback of net operating losses arising in 2019 and 2020. S. 3612/H.R. 6821 Small Business Expense Protection Act - ALL Like-Kind Exchanges - maintaining current tax treatment of IRC Section 1031 - no bill Cancellation of Indebtedness income- no bill
Client expense: $480,000 · Firm income: Not reported
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office
2020 · second_quarter · Taxation/Internal Revenue Code
Like kind exchanges (Sec. 1031) - no bill H.R. 1680/S.750 The New Market Tax Credits Extension Act - ALL H.R. 6175 REHAB Act - ALL H.R. 1735/S. 781 Carried Interest Fairness Act - ALL S. 1639 Ending the Carried Interest Loophole Act - ALL S. 2942 to provide that certain contributions by government entities are treated as contributions to capital H.R. 748 CARES Act tax provisions [see Sec 2301 Employee Retention Tax Credit Sec 2303 Modifications of NOLs Modification of REIT ownership rule IRC sec. 856(d)] S. 3814 RESTART ACT - ALL H.R. 7079 Clean Start Back to Work Act - ALL H.R. 6799 Keeping the Lights On Act - ALL
Client expense: $560,000 · Firm income: Not reported
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office
| Democratic |
| CA |
| Mike Kelly | Republican | PA |
| Ron Kind | Democratic | WI |
| Steven Horsford | Democratic | NV |