Bill Sponsor
Senate Bill 477
117th Congress(2021-2022)
Hospitality and Commerce Job Recovery Act of 2021
Introduced
Introduced
Introduced in Senate on Feb 25, 2021
Overview
Text
Introduced
Feb 25, 2021
Latest Action
Feb 25, 2021
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
477
Congress
117
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.
Sponsorship by Party
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Hospitality and Commerce Job Recovery Act of 2021

This bill extends existing and establishes new tax credits that assist the hospitality and restaurant industry. Specifically, it

  • allows a conventionand trade show restart tax credit;
  • extends the employee retention tax credit through 2021;
  • suspends for taxable years 2021 through 2022, the limitation on entertainment expenses related to a trade or business,
  • allows a restaurant and dining restart credit for businesses closed or forced to reduce services due to COVID-19 (i.e., coronavirus disease 2019);
  • allows a 50% tax credit for travel expenditures; and
  • allows a tax credit for unmerchantable inventory for the period between December 31, 2019, and before April 1, 2021.
Text (1)
February 25, 2021
Actions (2)
02/25/2021
Read twice and referred to the Committee on Finance.
02/25/2021
Introduced in Senate
Public Record
Record Updated
Mar 8, 2023 8:12:35 PM