[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8559 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 8559

To amend the Internal Revenue Code of 1986 to protect small businesses 
  from unemployment insurance premium increases by reason of unrepaid 
                            State advances.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 23, 2024

Mrs. Steel (for herself and Ms. Tenney) introduced the following bill; 
         which was referred to the Committee on Ways and Means

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                                 A BILL


 
To amend the Internal Revenue Code of 1986 to protect small businesses 
  from unemployment insurance premium increases by reason of unrepaid 
                            State advances.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PROTECTION OF SMALL BUSINESS FROM UNEMPLOYMENT INSURANCE 
              PREMIUM INCREASES BY REASON OF UNREPAID STATE ADVANCES.

    (a) In General.--Section 3302(c) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new paragraph:
    ``(4) Credits of Small Businesses Not Reduced by Reason of Unrepaid 
Advances.--
            ``(A) In general.--Paragraph (2) shall not apply with 
        respect to any specified small business.
            ``(B) Specified small business.--For purposes of this 
        paragraph, the term `specified small business' means any 
        taxpayer if such taxpayer employs fewer than 500 employees as 
        of the close of the third quarter of the calendar year 
        immediately preceding the second consecutive January 1 referred 
        to in paragraph (2)(A)(i).''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after the date of the enactment of this Act.
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