US S3883

Bill

A bill to amend the Internal Revenue Code of 1986 to make the earned income tax credit available to residents of possessions of the United States.

Introduced
06/03/2020

In Committee
06/03/2020

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

A bill to amend the Internal Revenue Code of 1986 to make the earned income tax credit available to residents of possessions of the United States. This bill directs the Department of the Treasury to make payments to Puerto Rico for expenditures by its taxpayer relating to the earned income tax credit (EITC). The bill also requires payments to U.S. possessions with mirror code tax systems (i.e., the Virgin Islands, Guam, and the Commonwealth of the Northern Mariana Islands) for a specified percentage of the cost of the EITC in calendar years 2020-2024.

AI Summary

This bill amends the Internal Revenue Code of 1986 to make the Earned Income Tax Credit (EITC) available to residents of U.S. possessions, such as Puerto Rico, the Virgin Islands, Guam, and the Commonwealth of the Northern Mariana Islands. It directs the Department of the Treasury to make payments to these possessions to cover the costs of the EITC, with specific provisions for each territory. For example, Puerto Rico must reform its EITC to substantially increase workforce participation in order to receive the payments. The bill also includes requirements for annual reporting and adjustments to ensure accurate payments.

Committee Categories

Budget and Finance

Sponsors (6)

Bob Menendez (D)*, Richard Blumenthal (D), Kirsten Gillibrand (D), Bernie Sanders (I), Chuck Schumer (D), Elizabeth Warren (D),

Last Action

Read twice and referred to the Committee on Finance. (on 06/03/2020)

Official Document

https://www.congress.gov/bill/116th-congress/senate-bill/3883/all-info

(5 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/senate-bill/3883/all-info
BillText	https://www.congress.gov/116/bills/s3883/BILLS-116s3883is.pdf
Bill	https://www.congress.gov/116/bills/s3883/BILLS-116s3883is.pdf.pdf

Bill	Bill Name	Last Action	Type
HR3300	Economic Mobility Act of 2019	Placed on the Union Calendar, Calendar No. 307.	Related
HR3307	To amend the Internal Revenue Code of 1986 to provide for payments to possessions of the United States related to the application of the earned income tax credit in such possessions.	Referred to the House Committee on Ways and Means.	Related
HR5687	Emergency Supplemental Appropriations for Disaster Relief and Puerto Rico Disaster Tax Relief Act, 2020	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 416.	Related
HR6379	Take Responsibility for Workers and Families Act Workforce Emergency Response Act of 2020	Referred to the Committee on Appropriations, and in addition to the Committees on the Budget, and Ways and Means, 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.	Related
HR6800	The Heroes Act	Committee on Small Business and Entrepreneurship. Hearings held.	Related

Bill > S3883

US S3883

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (6)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary