Senate Bill 3612
116th Congress(2019-2020)
Small Business Expense Protection Act of 2020
Introduced
Introduced in Senate on May 5, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3612
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
Small Business Expense Protection Act of 2020
This bill amends the Coronavirus Aid, Relief, and Economic Security Act to provide that tax deductions for ordinary business expenses and other tax incidents shall not be affected by the exclusion from gross income of amounts related to loan forgiveness received in response to COVID-19 (i.e., coronavirus disease 2019).
May 5, 2020
05/05/2020
Read twice and referred to the Committee on Finance.
05/05/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:42:45 PM