Build America Act of 1980

Summary

Build America Act of 1980 - Amends the Internal Revenue Code to allow taxpayers engaged in a manufacturing business a nonrefundable income tax credit for a specified percentage of payroll costs paid by such taxpayers during the initial three year period of an employee's employment. Places dollar limitations on the amount of such credit for each of the three years. Defines "payroll costs" as direct labor costs paid or incurred by the taxpayer for the services of an employee in the United States at a manufacturing facility placed in use after March 1, 1980. Identifies as direct labor costs basic compensation, overtime, vacation and sick pay, and certain fringe benefits.

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Timeline

1. 22 May 1980

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 22 May 1980

   Introduced

   Introduced in House

   Source: IntroReferral

3. 22 May 1980

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 22 May 1980

  Open at official source

Sponsors

• Rep. Archer, Bill [R-TX-7] · R · Sponsor
• Rep. Conte, Silvio O. [R-MA-1] · R · Cosponsor
• Rep. Mavroules, Nicholas [D-MA-6] · D · Cosponsor
• Rep. Roe, Robert A. [D-NJ-8] · D · Cosponsor
• · hswm00 · Standing

Related records

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