3.0.0 4807 2023-01-11T13:44:24Z 2023-01-11T13:44:24Z Senate S 2020-10-19 116 ssfi00 Finance Committee Senate Standing Referred to 2020-10-19T23:22:09Z Hospitality and Commerce Job Recovery Act of 2020 116 8802 HR 2020-11-20 Referred to the House Committee on Ways and Means. Related bill CRS 2020-10-19 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2020-10-19 Introduced in Senate IntroReferral 10000 9 Library of Congress C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV N C001096 Sen. Cramer, Kevin [R-ND] Kevin Cramer R ND 2020-10-19 True Taxation Business expenses Cardiovascular and respiratory health Emergency medical services and trauma care Employee benefits and pensions Employment taxes Food industry and services Government employee pay, benefits, personnel management Health care costs and insurance Income tax credits Infectious and parasitic diseases Marketing and advertising Museums, exhibitions, cultural centers State and local government operations Tax-exempt organizations Transportation costs Travel and tourism Wages and earnings Taxation 00 2020-10-19 Introduced in Senate 2020-11-20T18:00:46Z Hospitality and Commerce Job Recovery Act of 2020

This bill establishes new tax credits and revises existing credits and deductions to protect the hospitality and restaurant industries. Specifically, the bill allows a convention and trade show restart tax credit for (1) the costs of participation in a convention, seminar, or similar meeting, a business meeting, or a trade show that takes place after 2020; and (2) the costs of reopening an entertainment facility closed due to the COVID-19 (i.e., coronavirus disease 2019) pandemic. It also allows a business-related tax credit for the costs of reopening restaurants or food service businesses forced to close down or reduce operations due to COVID-19.

The bill modifies, and increases the rate of, the tax credit for the retention of employees for an employer whose business has been affected by a disaster or public health emergency. It also repeals the increased limitations on the tax deduction for meals and entertainment expenses enacted in 2017.

Finally, the bill allows individual taxpayers a new tax credit for travel expenses relating to entertainment activities occurring in the United States between January 1, 2021, and December 31, 2023.

]]> Hospitality and Commerce Job Recovery Act of 2020 Display Title Hospitality and Commerce Job Recovery Act of 2020 Short Title(s) as Introduced Hospitality and Commerce Job Recovery Act of 2020 Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to create a refundable tax credit for travel expenditures, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-10-19T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s4807is/xml/BILLS-116s4807is.xml 2020-10-19 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.