[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2958 Introduced in Senate (IS)]

113th CONGRESS
  2d Session
                                S. 2958

To amend the Internal Revenue Code of 1986 to expand the employer wage 
   credit for employees who are active duty members of the Uniformed 
                               Services.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           November 20, 2014

  Mr. Toomey introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to expand the employer wage 
   credit for employees who are active duty members of the Uniformed 
                               Services.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Guard and Military Reservist Pay 
Security Act''.

SEC. 2. EXPANSION OF EMPLOYER WAGE CREDIT FOR EMPLOYEES WHO ARE ACTIVE 
              DUTY MEMBERS OF THE UNIFORMED SERVICES.

    (a) Permanent Extension.--Section 45P of the Internal Revenue Code 
of 1986 is amended by striking subsection (f).
    (b) Expansion of Credit.--
            (1) Expansion to 100 percent of eligible differential wage 
        payments.--Subsection (a) of section 45P of the Internal 
        Revenue Code of 1986 is amended by striking ``20 percent of''.
            (2) Adjustment for inflation.--Subsection (b) of section 
        45P of such Code is amended by adding at the end the following 
        new paragraph:
            ``(4) Adjustment for inflation.--In the case of any taxable 
        year beginning after 2015, the $20,000 amount in paragraph (1) 
        shall be increased by an amount equal to--
                    ``(A) such dollar amount, multiplied by
                    ``(B) the cost-of-living adjustment determined 
                under section 1(f)(3) for the calendar year in which 
                the taxable year begins, by substituting `calendar year 
                2014' for `calendar year 1992' in subparagraph (B) 
                thereof.
        If the amount as increased under the preceding sentence is not 
        a multiple of $100, such amount shall be rounded to the nearest 
        multiple of $100.''.
            (3) Applicability to all employers.--
                    (A) In general.--Subsection (a) of section 45P of 
                such Code, as amended by paragraph (1), is amended by 
                striking ``eligible small business employer'' and 
                inserting ``eligible employer''.
                    (B) Conforming amendments.--Paragraph (3) of 
                section 45P(b) of such Code is amended--
                            (i) in subparagraph (A)--
                                    (I) by striking ``eligible small 
                                business employer'' and inserting 
                                ``eligible employer'', and
                                    (II) by striking ``any employer 
                                which'' and all that follows and 
                                inserting ``any employer which, under a 
                                written plan of the employer, provides 
                                eligible differential wage payments to 
                                every qualified employee of the 
                                employer.'', and
                            (ii) by striking ``Eligible small business 
                        employer'' in the heading and inserting 
                        ``Eligible employer''.
    (c) Effective Date.--The amendments made by this section shall 
apply to payments made after December 31, 2014.
                                 <all>