A bill to amend the Internal Revenue Code of 1954 to provide a refundable tax credit to an employer who pays compensation to an employee for a period during which the employee is participating in Armed Forces training.

Summary

Amends the Internal Revenue Code to allow an employer a refundable income tax credit for payment of compensation to an employee for periods during which such employee participates in Armed Forces summer camp training. Limits the amount of such credit to the amount which such employee would normally be paid for employment during such period, reduced by the amount of military pay which the employee receives at summer camp. Denies any tax credit for amounts which an employer pays as vacation or holiday pay.

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Timeline

1. 13 March 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

2. 13 March 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 17 March 1981

   Committee

   Committee on Finance requested executive comment from OMB; Treasury Department.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 13 March 1981

  Open at official source

Sponsors

• Sen. Sasser, Jim [D-TN] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to provide a refundable tax credit to an employer who pays compensation to an employee for a period during which the employee is participating in armed forces training.