,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #gfeh  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #af1 #bjbj ,mr4 
,s*weik]t introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,ways &      
,means  ,a ,,bill  ,to provide a payroll
 tax cr$it = c]ta9 co/s ( provid+       
employees ) te/+ = ,,covid-#ai4  #a4    
,employee te/+ tax cr$it  7a7 ,9 g5]al  
,9 ! case ( an employ]1 !re %all be     
all[$ z a cr$it aga9/ applicable        
employm5t taxes = ea* cal5d> qu>t] an   
am\nt equal to #ej p]c5t ( ! qualifi$   
employee te/+ exp5ses paid or incurr$ by
 ! employ] dur+ su* cal5d> qu>t]4  7b7  
,limitations & refundability  7#a7      
,ov]all doll> limitation on cr$it  7,a7 
,9 g5]al ,! am\nt ( ! cr$it all[$ "u    
subsection 7a7 ) respect to any employ] 
= any cal5d> qu>t] %all n exce$ ! excess
 7if any7 (--  7i7 ! applicable doll>   
limit ) respect to su* employ] = su*    
cal5d> qu>t]1 ov]  7ii7 ! aggregate     
cr$its all[$ "u subsection 7a7 ) respect
 to su* employ] = all prec$+ cal5d>     

qu>t]s4  7,b7 ,applicable doll> limit ,!
 t]m applicable doll> limit means1 )    
respect to any employ] = any cal5d>     
qu>t]1 ! sum (-- 7i7 #ejj1 multipli$ s  
mu* ( ! av]age numb] ( full-"t employees
 7z det]m9$ = purposes ( det]m9+ :e!r an
 employ] is an applicable l>ge employ] =
 purposes ( section #dihj;,h7c77#b7 ( ! 
,int]nal ,rev5ue ,code ( #aihf1 except t
 an individual %all n be tak5 into      
acc\nt z employee = any p]iod dur+ :i*  
sub/antially all ( ! s]vices provid$ by 
su* individual z an employee are provid$
 outside ! ,unit$ ,/ates7 employ$ by su*
 employ] dur+ su* cal5d> qu>t] z does n 
exce$ #ejj1 plus  7ii7 #cge1 multipli$  
by s mu* ( su* av]age numb] ( full-"t   
employees z exce$s #ejj b does n exce$  
#a1jjj1 plus  7iii7 #bej1 multipli$ by s
 mu* ( su* av]age numb] ( full-"t       
employees z exce$s #a1jjj4  7#b7 ,cr$it 
limit$ to employm5t taxes ,! cr$it all[$
 by subsection 7a7 ) respect to any     
cal5d> qu>t] %all n exce$ ! applicable  
employm5t taxes 7r$uc$ by any cr$its    

all[$ "u subsections 7e7 & 7f7 ( section
 #caaa ( ! ,int]nal ,rev5ue ,code (     
#aihf1 sections #gjja & #gjjc ( !       
,families ,fir/ ,coronavirus ,response  
,act1 & section #bcja ( ! ,,c>es ,act7  
on ! wages paid ) respect to ! employm5t
 ( all ! employees ( ! eligible employ] 
= su* cal5d> qu>t]4  7#c7 ,refundability
 ( excess cr$it  7,a7 ,9 g5]al ,if !    
am\nt ( ! cr$it "u subsection 7a7 exce$s
 ! limitation ( p>agraph 7#b7 = any     
cal5d> qu>t]1 su* excess %all be treat$ 
z an ov]paym5t t %all be refund$ "u     
sections #fdjb7;a7 & #fdac7;b7 ( !      
,int]nal ,rev5ue ,code ( #aihf4  7,b7   
,treatm5t ( paym5ts ,= purposes (       
section #acbd ( title #ca1 ,unit$ ,/ates
 ,code1 any am\nts due to ! employ] "u  
?is p>agraph %all be treat$ 9 ! same    
mann] z a refund due f a cr$it provision
 ref]r$ to 9 subsection 7b77#b7 ( su*   
section4  7c7 ,qualifi$ employee te/+   
exp5ses ,= purposes ( ?is section1 ! t]m
 qualifi$ employee te/+ exp5ses means   
am\nts paid or incurr$ by ! employ] =   

te/+ employees ( ! employ] = ,,covid-#ai
 or ,,s>s-,co,v-#b 7includ+ on a p]iodic
 basis74  7d7 ,o!r def9itions ,=        
purposes ( ?is section-- 7#a7           
,applicable employm5t taxes ,! t]m      
applicable employm5t taxes means !      
foll[+3  7,a7 ,! taxes impos$ "u section
 #caaa7;a7 ( ! ,int]nal ,rev5ue ,code ( 
#aihf4  7,b7 ,s mu* ( ! taxes impos$ "u 
section #cbba7;a7 ( su* ,code z are     
attributable to ! rate 9 effect "u      
section #caaa7;a7 ( su* ,code4  7#b7    
,secret>y ,! t]m ,secret>y means !      
,secret>y ( ! ,treasury or ! ,secret>y's
 delegate4  7#c7 ,o!r t]ms ,any t]m us$ 
9 ?is section 7o!r ?an subsection       
7b77#a77;,b77 :i* is also us$ 9 *apt]   
#ba or #bb ( ! ,int]nal ,rev5ue ,code ( 
#aihf %all h ! same mean+ z :5 us$ 9 su*
 *apt]4  7e7 ,c]ta9 gov]nm5tal employ]s 
,?is cr$it %all n apply to ! ,gov]nm5t (
 ! ,unit$ ,/ates1 ! gov]nm5t ( any ,/ate
 or political subdivision !re(1 or any  
ag5cy or in/rum5tality ( any ( ! =ego+4 
7f7 ,special rules  7#a7 ,aggregation   

rule ,all p]sons treat$ z a s+le employ]
 "u subsection 7a7 or 7b7 ( section #eb 
( ! ,int]nal ,rev5ue ,code ( #aihf1 or  
subsection 7m7 or 7o7 ( section #dad (  
su* ,code1 %all be treat$ z "o employ] =
 purposes ( ?is section4  7#b7 ,d5ial ( 
d\ble b5efit ,rules simil> to ! rules ( 
section #bhj;,c7a7 ( ! ,int]nal ,rev5ue 
,code ( #aihf %all apply = purposes (   
?is section4  7#c7 ,?ird-p>ty payors    
,any cr$it all[$ "u ?is section %all be 
treat$ z a cr$it describ$ 9 section     
#ceaa7;d77#b7 ( su* ,code4  7#d7        
,election n to h section apply ,?is     
section %all n apply ) respect to any   
eligible employ] = any cal5d> qu>t] if  
su* employ] elects 7at su* "t & 9 su*   
mann] z ! ,secret>y may prescribe7 n to 
h ?is section apply4  7g7 ,transf]s to  
c]ta9 tru/ funds ,!re are h]eby         
appropriat$ to ! ,f$]al ,old-,age &     
,survivors ,insurance ,tru/ ,fund & !   
,f$]al ,disability ,insurance ,tru/     
,fund e/abli%$ "u section #bja ( !      
,social ,security ,act 7#db ,u4,s4,c4   

#dja7 & ! ,social ,security ,equival5t  
,b5efit ,acc\nt e/abli%$ "u section     
#ae;,a7a7 ( ! ,railroad ,retirem5t ,act 
( #aigd 7#de ,u4,s4,c4 #ad #bcan-#a7;a77
 am\nts equal to ! r$uction 9 rev5ues to
 ! ,treasury by reason ( ?is section    
7)\t reg>d to ?is subsection74 ,am\nts  
appropriat$ by ! prec$+ s5t5ce %all be  
transf]r$ f ! g5]al fund at su* times & 
9 su* mann] z to replicate to ! ext5t   
possible ! transf]s :i* w\ld h occurr$  
to su* ,tru/ ,fund or ,acc\nt _h ?is    
section n be5 enact$4  7h7 ,treatm5t (  
deposits ,! ,secret>y %all waive any    
p5alty "u section #ffef ( ! ,int]nal    
,rev5ue ,code ( #aihf = any failure to  
make a deposit ( any applicable         
employm5t taxes if ! ,secret>y det]m9es 
t su* failure 0 due to ! reasonable     
anticipation ( ! cr$it all[$ "u ?is     
section4  7i7 ,regulations & guidance ,!
 ,secret>y %all prescribe su*           
regulations & o!r guidance z may be     
necess>y or appropriate to c>ry out !   
purposes ( ?is section1 includ+--  7#a7 

) respect to ! application ( ! cr$it "u 
subsection 7a7 to ?ird-p>ty payors      
7includ+ pr(essional employ]            
organizations1 c]tifi$ pr(essional      
employ] organizations1 or ag5ts "u      
section #cejd ( ! ,int]nal ,rev5ue ,code
 ( #aihf71 regulations or o!r guidance  
all[+ su* payors to submit docum5tation 
necess>y to sub/antiate ! am\nt ( !     
cr$it all[$ "u subsection 7a71 &  7#b7  
regulations or o!r guidance to prev5t   
abusive transactions4  7j7 ,application 
,?is section %all only apply to am\nts  
paid or incurr$ aft] ,m>* #ab1 #bjbj1 & 
be=e ,janu>y #a1 #bjba4