,i #aai? ,,congress #b;d ,session ,h4 ,r4 #hhcg ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,may #ad1 #bjbf,ms4 ,t5ney 7= h]self1 ,mr4 ,s*neid]1 ,mr4 ,smi? ( ,nebraska1 & ,ms4 ,sn*ez7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide = a microemploy] p5sion plan />tup cr$it1 to p]mit ! assignm5t ( small bus9ess p5sion plan />tup cr$its1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,retirem5t ,inve/m5t 9 ,small ,employ]s ,act or ,,rise ,act4 #b4 ,microemploy] p5sion plan />tup cr$it 7a7 ,9 g5]al ,section #de;,e ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subsection3 7g7 ,cr$it = microemploy]s 7#a7 ,9 g5]al ,9 ! case ( a qualifi$ microemploy]-- 7,a7 subsection 7a7 %all be appli$ by sub/itut+ #ajj p]c5t = #ej p]c5t1 & 7,b7 subsection 7b77#a7 %all be appli$ by sub/itut+ #b1ejj = #ejj 9 subp>agraph 7,a7 !re(4 7#b7 ,qualifi$ microemploy] ,= purposes ( ?is subsection1 ! t]m qualifi$ microemploy] means an employ] :i* w\ld be an eligible employ] if section #djh7p77#b77;,c77i77,i7 7 appli$ by sub/itut+ #aj = #ajj1 b only if ! eligible employ] plan e/abli%$ or ma9ta9$ by su* employ]1 "u ! t]ms ( ! plan1 accepts paym5t ( ! mat*+ contribution "u section #fdcc4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbf4 #c4 ,assignm5t ( small bus9ess p5sion plan />tup cr$its 7a7 ,9 g5]al ,section #de;,e ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by section #b1 is am5d$ by add+ at ! end ! foll[+ new subsection3 7h7 ,cr$it = eligible s]vice provid]s 7#a7 ,9 g5]al ,9 ! case ( an eligible entity t provides s]vices ) respect to an eligible employ] plan1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt det]m9$ "u p>agraph 7#b7 = ea* ( ! fir/ #c cr$it ye>s ) respect to su* plan1 provid$ t ! requirem5ts ( ?is subsection are satisfi$4 7#b7 ,am\nt ( cr$it 7,a7 ,9 g5]al ,! am\nt ( ! cr$it all[$ "u ?is subsection = any taxable ye> %all be equal to ! cr$it t w\ld h be5 all[able to ! eligible employ] "u subsection 7a7 = su* taxable ye> 7det]m9$ )\t reg>d to subsection 7f771 subject to ! limitations ( subsection 7b74 7,b7 ,det]m9ation ( cr$it ye>s ,= purposes ( ?is subsection1 ! t]m cr$it ye> means1 ) respect to a plan1 ! taxable ye> ( ! eligible entity :i* includes ! date t ! eligible employ] plan becomes effective ) respect to ! eligible employ] & ! two taxable ye>s imm$iately foll[+ su* taxable ye>4 7#c7 ,eligible entity ,= purposes ( ?is subsection1 ! t]m eligible entity means1 ) respect to ! plan = :i* ! cr$it is all[$ "u subsection 7a71 an entity t-- 7,a7 ) respect to ! plan1 provides s]vices t g5]ate qualifi$ />tup co/s2 7,b7 r$uces ! am\nt ( fees t w\ld o!rwise be *>g$ to ! eligible employ] = su* s]vices by an am\nt n less ?an ! cr$it det]m9$ "u p>agraph 7#b7 = ! taxable ye>2 & 7,c7 obta9s ! c]tification describ$ 9 p>agraph 7#d7 prior to claim+ ! cr$it4 7#d7 ,employ] c]tification ,! c]tification describ$ 9 ?is p>agraph is a writt5 c]tification t-- 7,a7 is made by ! eligible employ] n lat] ?an ! date on :i* ! s]vices g5]at+ ! qualifi$ />tup co/s = ! plan = :i* ! cr$it is all[$ "u subsection 7a7 are provid$2 & 7,b7 includes-- 7i7 ! numb] ( employees ( ! eligible employ] :o are n highly comp5sat$ employees 7z def9$ 9 section #dad7q77 & :o are eligible to p>ticipate 9 ! eligible employ] plan ma9ta9$ by ! eligible employ] z ( ! date su* plan is e/abli%$2 7ii7 t nei!r ! employ] nor any pr$ecessor e/abli%$ or ma9ta9$ a qualifi$ employ] plan ) respect to :i* contributions 7 made1 or b5efits 7 accru$1 = sub/antially ! same employees z are 9 ! qualifi$ employ] plan dur+ ! #c-taxable ye> p]iod imm$iately prec$+ ! #a/ taxable ye> = :i* ! cr$it "u ?is section is o!rwise all[able = ! qualifi$ employ] plan2 7iii7 t ! employ] w n claim a tax cr$it = qualifi$ />t up co/s ) respect to ! plan = any taxable ye>2 7iv7 t ! employ] has n provid$ a c]tification to any o!r s]vice provid] = purposes ( claim+ tax cr$its ) respect to ! plan2 & 7v7 su* o!r in=mation z ! ,secret>y may require 9 publi%$ regulations4 7#e7 ,coord9ation ) cr$it to employ] ,no cr$it %all be all[$ "u subsection 7a7 to an eligible employ] ) respect to a plan = :i* a cr$it is all[$ "u ?is subsection to an eligible entity ) respect to su* plan4 7#f7 ,tax treatm5t ( paym5ts ,) respect to ! r$uction 9 fees describ$ 9 p>agraph 7#c77;,b71 su* paym5t-- 7,a7 %all n be includible 9 ! gross income ( ! employ]1 & 7,b7 ) respect to ! eligible entity1 %all n be d$uctible "u ?is title4 7#g7 ,c]ta9 o!r requirem5ts ,! tax cr$it all[$ to an eligible entity "u p>agraph 7#a7 w n be r$uc$ 9 taxable ye>s foll[+ ! fir/ cr$it ye> due to a *ange 9 ! numb] ( employees ( ! eligible employ] describ$ 9 subp>agraph 7b77#a77;,b77i74 7#h7 ,recapture ,if ! am\nt receiv$ by an eligible entity ) respect to a qualifi$ plan is great] ?an ! cr$it "u subsection 7a7 t w\ld o!rwise 7b = ?is subsection7 be all[able to su* employ] ) respect to su* qualifi$ plan1 = example because ! employ] is n an eligible employ] or incorrectly c]tifies ! numb] ( employees "u 7#d77;,b77i71 ! tax impos$ on su* eligible entity "u ?is *apt] = ! taxable ye> 9 :i* ! cr$it is receiv$ ) respect to su* qualifi$ plan %all be increas$ by ! am\nt by :i* ! cr$it receiv$ exce$s ! am\nt t w\ld o!rwise 7b = ?is subsection7 be all[able to su* employ]4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbf4