3.0.0 4973 2023-01-11T13:31:37Z 2023-01-11T13:31:37Z House HR 2016-04-15 114 [Congressional Record Volume 162, Number 58 (Friday, April 15, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mrs. WATSON COLEMAN:H.R. 4973.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H1766]]]> hswm00 Ways and Means Committee House Standing Referred to 2016-04-15T13:02:30Z 2016-04-15 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2016-04-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-04-15 Introduced in House IntroReferral 1000 9 Library of Congress W000822 Rep. Watson Coleman, Bonnie [D-NJ-12] Bonnie Watson Coleman D NJ 12 N Taxation Employee hiring Income tax credits Unemployment Wages and earnings Taxation 00 2016-04-15 Introduced in House 2016-05-10T18:52:32Z Investing in Older Americans Act of 2016

This bill amends the Internal Revenue Code to make the Work Opportunity Tax Credit (WOTC) permanent and expand it to include the hiring of older long-term unemployment recipients.

(The WOTC permits employers that hire individuals with certain personal characteristics to claim a tax credit equal to a portion of the wages paid to those individuals.)

A qualified older long-term unemployment recipient is an individual who is certified by the designated local agency as:

  • being at least 55 years of age on the hiring date, and
  • qualified as a long-term unemployment recipient under current law by being unemployed for at least 27 consecutive weeks and receiving state or federal unemployment compensation during that period.

The bill limits to $14,000 the amount of the qualified first-year wages which may be taken into account under the WOTC for a qualified older long-term unemployment recipient.

]]> Investing in Older Americans Act of 2016 Display Title Investing in Older Americans Act of 2016 Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide a work opportunity tax credit for the older long-term unemployed recipient, and for other purposes. Introduced in House IH Short Titles as Introduced Investing in Older Americans Act of 2016 Introduced in House 2016-04-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4973ih/xml/BILLS-114hr4973ih.xml 2016-04-15 Referred to the House Committee on Ways and Means. 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.