,i #aac? ,,congress #a/ ,session ,h4 ,r4 #cabg ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,septemb] #ah1 #bjac,mr4 ,maffei introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means1 & 9 addition to ! ,committee on ,small ,bus9ess1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to all[ a cr$it to small employ]s = c]ta9 newly hir$ employees1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,cutt+ ,r$ ,tape1 ,gre5-,light+ ,small ,bus9esses ,act ( #bjac4 #b4 ,cr$it = c]ta9 individuals hir$ by a small employ] 7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+3 #de,s4 ,c]ta9 individuals hir$ by a small employ] 7a7 ,g5]al ,rule ,= purposes ( section #ch1 9 ! case ( an eligible small employ]1 ! small employ] hir+ cr$it det]m9$ "u ?is section = any taxable ye> is ! am\nt det]m9$ "u subsection 7b74 7b7 ,small employ] hir+ cr$it am\nt ,! am\nt det]m9$ "u ?is subsection = a taxable ye> ) respect to a qualifi$ small employ] is ! product (-- 7#a7 ! tax rate 9 effect "u section #caaa7;a7 = ! cal5d> ye> 9 :i* su* taxable ye> ends1 multipli$ by 7#b7 ! wages paid by ! qualifi$ small employ] ) respect to employm5t ( all cov]$ employees dur+ ! taxable ye>4 7c7 ,qualifi$ employ] ,= purposes ( ?is subsection-- 7#a7 ,9 g5]al ,! t]m qualifi$ small employ] means ) respect to any cal5d> ye>1 an employ] :o on no bus9ess day ( ! prec$+ cal5d> ye> employ$ less ?an #b1 or m ?an #aej1 employees4 7#b7 ,employ]s n 9 exi/5ce 9 prec$+ ye> ,9 ! case ( an employ] :i* 0 n 9 exi/5ce ?r\gh\t ! prec$+ cal5d> ye>1 ! det]m9ation ( :e!r su* employ] is a small employ] %all be bas$ on ! numb] ( employees t x is reasonably expect$ su* employ] w employ on bus9ess days 9 ! curr5t cal5d> ye>4 7#c7 ,special rules ,= purposes ( ?is subsection-- 7,a7 ,pr$ecessor & successor ,any ref]5ce 9 ?is p>agraph to an employ] %all include a ref]5ce to any pr$ecessor (1 or successor to1 su* employ]4 7,b7 ,aggregation rule ,all p]sons treat$ z a s+le employ] "u subsection 7b71 7c71 7m71 or 7o7 ( section #dad %all be treat$ z "o employ]4 7,c7 ,gov]nm5tal employ]s n includ$ ,! t]m employ] does n include ! ,unit$ ,/ates1 any ,/ate1 or any political subdivision !re(1 or any in/rum5tality ( ! =ego+4 7#d7 ,cr$it applies = only #a ye> ,if an election to claim ! cr$it "u ?is section is 9 effect = any cal5d> ye>1 p>agraph 7#a7 %all n apply to su* employ] = any ye> aft] su* cal5d> ye>4 7d7 ,cov]$ employee ,= purposes ( ?is subsection-- 7#a7 ,9 g5]al ,! t]m cov]$ employee means1 ) respect to any week1 is an employee :o-- 7,a7 fir/ beg9s "w = ! employ] = s]vices p]=m$ by ! employee-- 7i7 9 a trade or bus9ess ( su* qualifi$ small employ]1 or 7ii7 9 ! case ( a qualifi$ small employ] exempt f tax "u section #eja7;a71 9 fur!rance ( ! activities relat$ to ! purpose or function con/itut+ ! basis ( ! employ]'s exemption "u section #eja1 & 7,b7 is employ$ on av]age at lea/ #cj h\rs ( s]vice p] week4 7#b7 ,limitation to #e employees ,an employ] may n treat m ?an #e employees z cov]$ employees4 7#c7 ,h\rs ( s]vice ,! ,secret>y1 9 consultation ) ! ,secret>y ( ,labor1 %all prescribe su* regulations1 rules1 & guidance z may be necess>y to det]m9e ! h\rs ( s]vice ( an employee1 includ+ rules = ! application ( ?is p>agraph to employees :o are n comp5sat$ on an h\rly basis4 7e7 ,cr$it made available to tax-,exempt eligible small employ]s 7#a7 ,9 g5]al ,9 ! case ( a tax-exempt eligible small employ]1 !re %all be treat$ z a cr$it all[able "u subp>t ,c 7& n all[able "u ?is subp>t7 ! am\nt ( ! cr$it det]m9$ "u ?is section ) respect to su* employ]4 7#b7 ,tax-exempt eligible small employ] ,= purposes ( ?is section1 ! t]m tax-exempt eligible small employ] means an eligible small employ] :i* is any organization describ$ 9 section #eja7;c7 :i* is exempt f taxation "u section #eja7;a74 7f7 ,d5ial ( d\ble b5efit ,no d$uction or cr$it %all be all[$ "u any o!r provision ( ?is *apt] ) respect to ! am\nt ( ! cr$it det]m9$ "u ?is section4 7g7 ,election ,?is section %all apply to any taxpay] = any taxable ye> only if su* taxpay] elects 7at su* "t & 9 su* mann] z ! ,secret>y may by regulations prescribe7 to h ?is section apply = su* taxable ye>4 7h7 ,t]m9ation ,?is section %all n apply ) respect to wages paid aft] ,decemb] #ca1 #bjae4 4 7b7 ,cr$it ,to ,be ,"p ( ,g5]al ,bus9ess ,cr$it ,section #ch7;b7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7relat+ to curr5t ye> bus9ess cr$it7 is am5d$ by /rik+ plus at ! end ( p>agraph 7#ce71 by /rik+ ! p]iod at ! end ( p>agraph 7#cf7 & ins]t+ 1 plus1 & by ins]t+ aft] p>agraph 7#cf7 ! foll[+3 7#cg7 ! small employ] hir+ cr$it det]m9$ "u section #de,s4 4 7c7 ,cl]ical ,am5dm5t ,! table ( sections = subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+3 ,sec4 #de,s4 ,c]ta9 individuals hir$ by a small employ]4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to am\nts paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #c4 ,pap]work r$uction ,! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 #fca et seq47 is am5d$ by add+ at ! end ! foll[+3 #dh4 ,pap]work r$uction ,n lat] ?an #fj days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,adm9i/rator ( ! ,small ,bus9ess ,adm9i/ration %all det]m9e1 = a new small bus9ess conc]n1 :at applications1 submissions1 or o!r pap]work = purposes ( programs adm9i/]$ by ! ,adm9i/rator1 are n ess5tial to file dur+ ! fir/ ye> ( op]ation1 & %all make rules t waive ! ne$ = su* pap]work4 4