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

119 HR 1959 IH: To amend the Internal Revenue Code of 1986 to protect small businesses from unemployment insurance premium increases by reason of unrepaid State advances. U.S. House of Representatives 2025-03-06 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 1959 IN THE HOUSE OF REPRESENTATIVES March 6, 2025 Ms. Tenney (for herself and Mr. Smucker ) introduced the following bill; which was referred to the Committee on Ways and Means 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. 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.