summary
Introduced
08/01/2024
08/01/2024
In Committee
08/01/2024
08/01/2024
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to amend the Internal Revenue Code of 1986 to make the credit for small employer pension plan startup costs and the retirement auto-enrollment credit available to tax-exempt eligible small employers.
AI Summary
This bill amends the Internal Revenue Code to make the credit for small employer pension plan startup costs and the retirement auto-enrollment credit available to tax-exempt eligible small employers. Specifically, it allows tax-exempt eligible employers to claim these credits against their payroll tax liability, rather than their income tax liability. The bill also includes provisions to ensure that the Social Security Trust Funds are held harmless from the revenue impact of these new credits.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Read twice and referred to the Committee on Finance. (on 08/01/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/4965/all-info |
| BillText | https://www.congress.gov/118/bills/s4965/BILLS-118s4965is.pdf |
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