3.0.0 3526 2022-02-08T23:15:15Z 2022-02-08T23:15:15Z Senate S 2020-03-18 116 ssfi00 Finance Committee Senate Standing Referred to 2020-03-18T21:01:54Z Workforce Emergency Response Act of 2020 116 6379 HR 2020-03-23 Referred to the Committee on Appropriations, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS 2020-03-18 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2020-03-18 Introduced in Senate IntroReferral 10000 9 Library of Congress R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. N Finance and Financial Sector Administrative law and regulatory procedures Business expenses Cardiovascular and respiratory health Corporate finance and management Department of the Treasury Emergency medical services and trauma care Foreign and international corporations Government lending and loan guarantees Income tax deductions Income tax deferral Infectious and parasitic diseases Securities Wages and earnings Finance and Financial Sector 00 2020-03-18 Introduced in Senate 2020-06-11T18:47:53Z Protecting Taxpayer's Return on Investment Act of 2020

This bill sets forth requirements for the purchase or guarantee of a company's assets by the Department of the Treasury in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic. Specifically, as a condition of such a transaction, companies must provide a warrant (i.e., the right to purchase company stock in the future at a specified exercise price) or a senior debt instrument to Treasury. The exercise price for a warrant must be set by Treasury for the primary benefit of taxpayers.

Treasury is generally prohibited from purchasing or guaranteeing assets from an inverted domestic corporation (i.e., a domestic corporation that has been restructured to incorporate in a foreign jurisdiction for tax purposes) in response to COVID-19.

An entity receiving specified assistance in response to COVID-19 may not claim the trade or business expenses tax deduction for the amount an individual employee is compensated above $500,000.

]]> Protecting Taxpayer's Return on Investment Act of 2020 Display Title Protecting Taxpayer's Return on Investment Act of 2020 Short Title(s) as Introduced Protecting Taxpayer's Return on Investment Act of 2020 Introduced in Senate IS Official Title as Introduced A bill to restrict the authority of the Secretary of the Treasury to purchase or guarantee assets in response to the coronavirus disease (COVID-19) outbreak. Introduced in Senate IS Introduced in Senate 2020-03-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s3526is/xml/BILLS-116s3526is.xml 2020-03-18 Read twice and referred to the Committee on Finance. 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.