summary
Introduced
05/18/2023
05/18/2023
In Committee
05/18/2023
05/18/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To exempt grants received under the Coronavirus Economic Relief for Transportation Services (CERTS) Act from Federal taxation.
AI Summary
This bill, the CERTS Tax Exemption Act, exempts grants received under the Coronavirus Economic Relief for Transportation Services (CERTS) Act from federal taxation. Specifically, the bill amends the CERTS Act to explicitly state that (1) the CERTS grants received by eligible transportation service providers will not be included in their gross income, (2) no tax deductions or attributes will be denied due to the exclusion of the CERTS grants from gross income, and (3) for partnerships and S corporations, the CERTS grants will be treated as tax-exempt income for the purposes of calculating a partner's or shareholder's adjusted basis. This provision applies retroactively to taxable years ending after the enactment of the original CERTS Act.
Committee Categories
Budget and Finance
Sponsors (28)
Darin LaHood (R)*,
Colin Allred (D),
Becca Balint (D),
Earl Blumenauer (D),
Mike Bost (R),
Brendan Boyle (D),
Sean Casten (D),
Danny Davis (D),
Ron Estes (R),
Bill Foster (D),
Jared Golden (D),
Josh Gottheimer (D),
Mark Green (R),
Jahana Hayes (D),
Mike Kelly (R),
Robin Kelly (D),
Nick LaLota (R),
Dan Meuser (R),
Mary Miller (R),
Jerry Nadler (D),
Zach Nunn (R),
Jimmy Panetta (D),
Mark Pocan (D),
Mike Quigley (D),
John Rose (R),
Mikie Sherrill (D),
Michelle Steel (R),
Susan Wild (D),
Last Action
Referred to the House Committee on Ways and Means. (on 05/18/2023)
Bill Topics
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Transportation
- ‐ General Transportation
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/3510/all-info | 05/19/2023 |
| BillText | https://www.congress.gov/118/bills/hr3510/BILLS-118hr3510ih.pdf | 06/07/2023 |
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