3.0.0 538 2023-01-11T19:58:36Z 2023-01-11T19:58:36Z Senate S S 2007-02-08 110 ssfi00 Finance Committee Senate Standing Referred to 2007-02-08T22:28:52Z 2007-02-08 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1793-1795) IntroReferral 2007-02-08 Sponsor introductory remarks on measure. (CR S1790-1792) IntroReferral B00100 9 Library of Congress 2007-02-08 Introduced in Senate IntroReferral 10000 9 Library of Congress L000550 Sen. Landrieu, Mary L. [D-LA] MARY LANDRIEU D LA N Taxation Agriculture and Food Alabama Commerce Depreciation and amortization Disaster relief Emergency Management Expense accounts Housing and Community Development Hurricanes Income tax Labor and Employment Leases Louisiana Mississippi Recruiting of employees Restaurants Retail trade Small business Social Welfare Social security taxes Tax credits Tax deductions Transportation and Public Works Travel costs Wages Withholding tax Taxation 00 2007-02-08 Introduced in Senate 2007-03-19T18:56:27Z Work, Hope, and Opportunity for the Disaster Area Today Act - Allows small business employers (employers of not more than 100 full time employees) in specified areas of the Gulf Opportunity (GO) Zone to claim a credit against the employment tax liabilities of their GO Zone employees. Limits to $15,000 per employee the amount of wages eligible for such credit in any calendar quarter.

Amends the Internal Revenue Code to allow a full tax deduction for business meal and entertainment expenses (normally, only 50% of such expenses are deductible) incurred in specified areas of the GO Zone prior to January 1, 2010.

Extends through 2009: (1) the increased expensing allowance for GO Zone investment property; and (2) the work opportunity tax credit for hiring Hurricane Katrina employees.

Extends through 2008 provisions allowing accelerated depreciation of qualified leasehold, restaurant, and retail improvement property located in specified areas of the GO Zone.

]]> Work, Hope, and Opportunity for the Disaster Area Today Act Official Title as Introduced A bill to reduce income tax withholding deposits to reflect a FICA payroll tax credit for certain employers located in specified portions of the GO Zone, and for other purposes. Introduced in Senate IS Display Title Work, Hope, and Opportunity for the Disaster Area Today Act Short Titles as Introduced Work, Hope, and Opportunity for the Disaster Area Today Act Introduced in Senate 2007-02-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s538is/xml/BILLS-110s538is.xml 2007-02-08 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1793-1795) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.