US S4268

Bill

Employer Assistance Coordination Act

Introduced
07/22/2020

In Committee
07/22/2020

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

Permits certain small employers who participate in the Payroll Protection Program established to assist such employers adversely affected by the COVID-19 (i.e., coronavirus disease 2019) public health emergency to also claim the refundable employee retention tax credit if their businesses have experienced a significant reduction in revenue or have closed pursuant to a government order. The bill prohibits employers from using funds from both programs based upon the same wages paid to their employees.

AI Summary

This bill, the Employer Assistance Coordination Act, aims to improve coordination between the Paycheck Protection Program (PPP) and the Employee Retention Tax Credit (ERTC). It allows certain small employers participating in the PPP, which was established to assist businesses adversely affected by the COVID-19 pandemic, to also claim the refundable ERTC if they have experienced a significant reduction in revenue or have been forced to close due to a government order. The bill prohibits employers from using funds from both programs for the same wages paid to their employees.

Committee Categories

Budget and Finance

Sponsors (2)

Maggie Hassan (D)*, Richard Burr (R),

Last Action

Read twice and referred to the Committee on Finance. (on 07/22/2020)

Official Document

https://www.congress.gov/bill/116th-congress/senate-bill/4268/all-info

(6 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/senate-bill/4268/all-info
BillText	https://www.congress.gov/116/bills/s4268/BILLS-116s4268is.pdf
Bill	https://www.congress.gov/116/bills/s4268/BILLS-116s4268is.pdf.pdf

Bill	Bill Name	Last Action	Type
HR6776	JOBS Credit Act of 2020 Jumpstarting Our Businesses’ Success Credit Act of 2020	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.	Related
HR6781	Paycheck Protection Program Improved Coordination Act of 2020	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.	Related
HR6800	The Heroes Act	Committee on Small Business and Entrepreneurship. Hearings held.	Related
S3793	Paycheck Security Act	Read twice and referred to the Committee on Finance.	Related
S4318	American Workers, Families, and Employers Assistance Act	Read twice and referred to the Committee on Finance.	Related
S4818	Heroes Small Business Lifeline Act	Committee on Small Business and Entrepreneurship. Hearings held.	Related

Bill > S4268

US S4268

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary