H.R. 6799

Referred to Committee

Keeping the Lights On Act of 2020

Introduced 5/12/2020•116th Congress•House

Latest Action

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.

5/12/2020 • House

Summary

Keeping the Lights On Act of 2020

This bill allows an eligible employer a payroll tax credit equal to 50% of a limited amount of qualified fixed expenses paid by such employer in a calendar quarter. Qualified fixed expenses include a mortgage, rent, or a utility payment.

An employer is eligible for such payroll credit if the employer was carrying on a trade or business in 2020 which had not more than 1,500 full-time employees or not more than $41.5 million in gross receipts in 2019. The employer's business must have been suspended in a calendar quarter due to COVID-19 (i.e., coronavirus disease 2019) and have experienced a significant decline in gross receipts due to that pandemic..

The credit may not be claimed by the federal government or by any state or tribal government, or by U.S. possessions, but may be claimed by tax-exempt organizations.

Introduced in House • 5/12/2020

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Topics & Subjects

Policy Area: Taxation

Administrative law and regulatory proceduresAppropriationsCardiovascular and respiratory healthDepartment of the TreasuryDisability assistanceEconomic performance and conditionsEmergency medical services and trauma careEmployment taxesGovernment trust fundsHealth care costs and insuranceHealth care coverage and accessInfectious and parasitic diseasesInterest, dividends, interest ratesPublic utilities and utility ratesSmall businessSocial security and elderly assistanceTax administration and collection, taxpayersTax-exempt organizationsWages and earnings