Small Business Tax Credit Accessibility Act

Summary

Small Business Tax Credit Accessibility Act Amends the Internal Revenue Code, with respect to the small employer health care insurance tax credit, to: (1) revise the definition of "eligible small employer" to mean an employer with not more than 50 (currently, 25) full-time employees; (2) modify the phaseout formula for such credit to base such phaseout on number of employees and average annual wages; (3) extend from two to three consecutive taxable years the period during which an employer may claim such credit; and (4) eliminate the requirement that employers contribute the same percentage of cost of each employee's health insurance and the cap limiting eligible employer contributions to average premiums paid to a state health insurance exchange.

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Timeline

1. 5 February 2015

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 5 February 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 18 May 2016

   Committee

   Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 114-675.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 5 February 2015 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 5 February 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 5 February 2015

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 5 February 2015

  Open at official source

Sponsors

• Christopher Coons · D · Sponsor
• Jeff Merkley · D · Sponsor
• Angus King · I · Sponsor
• Sen. Manchin, Joe, III [I-WV] · D · Sponsor
• Sen. Heitkamp, Heidi [D-ND] · D · Sponsor
• Jeanne Shaheen · D · Sponsor
• Timothy Kaine · D · Sponsor
• Sen. Franken, Al [D-MN] · D · Sponsor
• Sen. Hirono, Mazie K. [D-HI] · D · Sponsor
• Patty Murray · D · Cosponsor
• Sen. Udall, Tom [D-NM] · D · Cosponsor
• · sssb00 · Standing
• · ssfi00 · Standing

Related records

• related to → Small Business Tax Credit Accessibility Act