Small Business Emergency Savings Accounts Act of 2020
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Oct 23, 2020)
Small Business Emergency Savings Accounts Act of 2020
This bill allows a new tax deduction from gross income for amounts paid into a small business emergency savings account. Such savings accounts are established exclusively to pay the qualified disaster and public health emergency expenses of the account beneficiary.
The bill defines qualified disaster and public health emergency expenses as disaster loss replacement expenses, disaster recovery operations expenses, and public health emergency expenses.
What just happenedOct 23, 2020
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseOct 23, 2020
- Oct 23, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Oct 23, 2020IntroReferralIntro-H
Introduced in House
- Oct 23, 2020IntroReferral1000
Introduced in House