Senate Bill 551
117th Congress(2021-2022)
Recovery Startup Assistance Act
Introduced
Introduced in Senate on Mar 2, 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
551
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.
No Senate votes have been held for this bill.
Summary
Recovery Startup Assistance Act
This bill expands the employee retention tax credit to include recovery startup businesses. The bill defines recovery startup business as any employer that began a trade or business after February 15, 2020, had less than 50 full-time employees, and did not have gross receipts in excess of $25,000 in the preceding five-year period.
March 2, 2021
03/02/2021
Read twice and referred to the Committee on Finance.
03/02/2021
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:47:50 PM