Keeping the Lights On Act of 2020

Summary

Keeping the Lights On Act of 2020 This bill allows an eligible employer a payroll tax credit equal to 50% of a limited amount of qualified fixed expenses paid by such employer in a calendar quarter. Qualified fixed expenses include a mortgage, rent, or a utility payment. An employer is eligible for such payroll credit if the employer was carrying on a trade or business in 2020 which had not more than 1,500 full-time employees or not more than $41.5 million in gross receipts in 2019. The employer's business must have been suspended in a calendar quarter due to COVID-19 (i.e., coronavirus disease 2019) and have experienced a significant decline in gross receipts due to that pandemic.. The credit may not be claimed by the federal government or by any state or tribal government, or by U.S. possessions, but may be claimed by tax-exempt organizations.

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Timeline

1. 12 May 2020

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 12 May 2020

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 May 2020

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 May 2020 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 May 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 May 2020

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 May 2020

  Open at official source

Sponsors

• Rep. Thompson, Mike [D-CA-4] · D · Sponsor
• Rep. Kelly, Mike [R-PA-16] · R · Sponsor
• RON KIND · D · Sponsor
• Rep. Panetta, Jimmy [D-CA-19] · D · Sponsor
• Rep. Horsford, Steven [D-NV-4] · D · Sponsor
• Josh Harder · D · Cosponsor
• Bradley Schneider · D · Cosponsor
• Rep. Huffman, Jared [D-CA-2] · D · Cosponsor
• · hssm00 · Standing
• · hswm00 · Standing

Related records

• related to → Keeping the Lights On Act of 2021
• related to ← The Heroes Act