Bill > S1944

This bill exempts grants received under the Coronavirus Economic Relief for Transportation Services (CERTS) Act from federal taxation. Specifically, it amends the CERTS Act to exclude CERTS grants from the recipient's gross income, prevent the denial of deductions or tax attributes due to the grant exclusion, and ensure that CERTS grant income is treated as tax-exempt for partnerships and S corporations. The amendment applies to taxable years ending after the enactment of the original CERTS Act.