[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 3757 Introduced in Senate (IS)]
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116th CONGRESS
2d Session
S. 3757
To amend the Internal Revenue Code of 1986 to provide incentives for
businesses and employers to help in the fight against COVID-19, and for
other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 19, 2020
Mr. Jones 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 provide incentives for
businesses and employers to help in the fight against COVID-19, and for
other purposes.
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 ``Build Health Care Equipment in
America Act''.
SEC. 2. BONUS DEPRECIATION FOR FACILITIES MANUFACTURING ITEMS TO FIGHT
COVID-19.
(a) In General.--Section 168 of the Internal Revenue Code of 1986
is amended by adding at the end the following new subsection:
``(n) Special Allowance for Medical Equipment Manufacturers.--
``(1) In general.--In the case of any qualified medical
equipment manufacturing property--
``(A) the depreciation deduction provided by
section 167(a) for the taxable year in which such
property is placed in service shall include an
allowance equal to the applicable percentage of the
adjusted basis of such property, and
``(B) the adjusted basis of such property shall be
reduced by the amount of such deduction before
computing the amount otherwise allowable as a
depreciation deduction under this chapter for such
taxable year and any subsequent taxable year.
``(2) Applicable percentage.--For purposes of this
subsection, the term `applicable percentage' means--
``(A) in the case of property described in
paragraph (3)(A)--
``(i) if such property is placed in service
within a rural area, 67 percent, or
``(ii) if such property is placed in
service within an area not described in clause
(i), 50 percent, and
``(B) in the case of property described in
paragraph (3)(B)--
``(i) which is placed in service before
January 1, 2027, 100 percent,
``(ii) which is placed in service after
December 31, 2026, and before January 1, 2028,
80 percent,
``(iii) which is placed in service after
December 31, 2027, and before January 1, 2029,
60 percent,
``(iv) which is placed in service after
December 31, 2028, and before January 1, 2030,
40 percent, and
``(v) which is placed in service after
December 31, 2029, and before January 1, 2031,
20 percent.
``(3) Qualified medical equipment manufacturing property.--
For purposes of this subsection, the term `qualified medical
equipment manufacturing property' means--
``(A) any nonresidential real property which is--
``(i) originally placed in service after
the date of enactment of this subsection and
before January 1, 2031, and
``(ii) used solely for the production or
manufacturing of COVID-19 medical equipment,
and
``(B) any qualified property (as defined in
subsection (k)(2), without respect to subparagraph
(A)(iii) of such subsection) which is--
``(i) originally placed in service after
the date of enactment of this subsection and
before January 1, 2031, and
``(ii) used to rehabilitate, refurbish, or
reequip any facility which was originally
placed in service before the date of enactment
of this subsection to allow such facility to
produce or manufacture COVID-19 medical
equipment.
``(4) COVID-19 medical equipment.--For purposes of this
subsection, the term `COVID-19 medical equipment' means any
product or equipment used for the prevention or treatment of
the virus SARS-CoV-2 or coronavirus disease 2019 (COVID-19).''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after the date of enactment of this Act.
SEC. 3. HEALTH CARE WORKFORCE CREDIT.
(a) In General.--Subpart D of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 is amended by adding at the end
the following new section:
``SEC. 45U. HEALTH CARE WORKFORCE CREDIT.
``(a) In General.--For purposes of section 38, the amount of the
health care workforce credit determined under this section for the
taxable year shall be equal to the sum of any applicable payroll taxes
paid by an employer during the taxable year with respect to employment
of any qualified employee.
``(b) Definitions.--For purposes of this section:
``(1) Applicable payroll taxes.--
``(A) In general.--The term `applicable payroll
taxes' means, with respect to any employer for any
taxable year, the amount of the taxes imposed by--
``(i) section 3111 on wages paid by an
employer with respect to employment of
qualified employee during the applicable
period, and
``(ii) section 3221(a) on compensation paid
by an employer with respect to services
rendered by a qualified employee during the
applicable period.
``(B) Applicable period.--For purposes of
subparagraph (A), the term `applicable period' means
the 3-year period beginning with the day the qualified
employee begins work for the employer.
``(2) Declining field; skilled healthcare field.--
``(A) In general.--
``(i) Declining field.--The term `declining
field' means any occupation or field of work
which has been determined by the Secretary, in
consultation with the Bureau of Labor
Statistics of the Department of Labor, to have
experienced a decline in the level of average
employment in such occupation or field in the
United States of not less than 8 percent over
the most recent 3-year period for which such
information is available.
``(ii) Skilled healthcare field.--The term
`skilled healthcare field' means any occupation
or field of work related to the practice of
medicine which has been determined by the
Secretary, in consultation with the Bureau of
Labor Statistics of the Department of Labor,
to--
``(I) require--
``(aa) theoretical and
practical application of a body
of highly specialized
knowledge; and
``(bb)(AA) attainment of a
bachelor's or higher degree in
the specific specialty (or its
equivalent); or
``(BB) experience in the
specialty equivalent to the
completion of such degree; and
``(II) have an insufficient number
of individuals who are citizens or
residents of the United States and are
qualified, willing, and able to satisfy
the demand for labor in such occupation
or field of work.
``(B) Determination and publication.--The
Secretary, in consultation with the Bureau of Labor
Statistics of the Department of Labor, shall annually--
``(i) determine which occupations or fields
of work satisfy the requirements described in
subparagraph (A), and
``(ii) publish and make available on the
website of the Department of the Treasury a
complete list of such occupations and fields of
work.
``(3) Qualified employee.--
``(A) In general.--The term `qualified employee'
means an individual who--
``(i) is provided wages for employment by
the employer (as such terms are defined in
section 3121), provided that such employment--
``(I) is not in a declining field,
and
``(II) is in a skilled healthcare
field,
``(ii) is not a covered employee (as
defined in section 162(m)(3)), and
``(iii) was employed in a declining field
for any period during the 12-month period
preceding the applicable period under paragraph
(1)(B).
``(B) Nonqualifying rehires.--The term `qualifying
employee' shall not include any individual who, prior
to the beginning of the applicable period under
paragraph (1)(B), had been employed by the employer at
any time.''.
(b) Credit Part of General Business Credit.--Section 38(b) of the
Internal Revenue Code of 1986 is amended by striking ``plus'' at the
end of paragraph (32), by striking the period at the end of paragraph
(33) and inserting ``, plus'', and by adding at the end the following
new paragraph:
``(34) the health care workforce credit determined under
section 45U(a).''.
(c) Clerical Amendment.--The table of sections for subpart D of
part IV of subchapter A of chapter 1 of the Internal Revenue Code of
1986 is amended by adding at the end the following new item:
``Sec. 45U. Health Care Workforce Credit.''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after the date of the enactment of
this Act.
SEC. 4. ENHANCEMENTS TO CERTAIN EDUCATION TAX BENEFITS FOR MEDICAL
PROFESSIONALS IN SHORT SUPPLY.
(a) In General.--
(1) Publication.--For each calendar year beginning after
the date of the enactment of this Act, the Secretary of the
Treasury, in consultation with the Secretary of Labor, shall
publish and make available on the website of the Department of
the Treasury a list of any occupation or field of work which
qualifies as a medical short supply field for such calendar
year.
(2) Medical short supply field.--The term ``medical short
supply field'' means an occupation or field of work which the
Secretary of the Treasury, in consultation with the Secretary
of Labor, has determined--
(A) is related to the practice of medicine or to
the manufacturing of medical equipment;
(B) requires--
(i) theoretical and practical application
of a body of highly specialized knowledge; and
(ii)(I) attainment of a bachelor's or
higher degree in the specific specialty (or its
equivalent); or
(II) experience in the specialty equivalent
to the completion of such degree; and
(C) has an insufficient number of individuals who
are citizens or residents of the United States and are
qualified, willing, and able to satisfy the demand for
labor in such occupation or field of work.
(b) Enhancements to Certain Education Tax Benefits.--
(1) In general.--
(A) Educational assistance programs.--Paragraph (2)
of section 127(a) of the Internal Revenue Code of 1986
is amended by inserting ``(or, in the case of an
individual employed in an occupation or field of work
which has been designated as a medical short supply
field for such calendar year pursuant to section 4(a)
of the Build Health Care Equipment in America Act, the
first $15,000 of such assistance so furnished)'' before
the period at the end.
(B) Interest on education loans.--Paragraph (1) of
section 221(b) of the Internal Revenue Code of 1986 is
amended by inserting ``(or, in the case of a individual
employed in an occupation or field of work which has
been designated, pursuant to section 4(a) of the Build
Health Care Equipment in America Act, as a medical
short supply field for the calendar year in which such
taxable year began, shall not exceed $8,000)'' before
the period at the end.
(C) Qualified tuition and related expenses.--
Paragraph (1) of section 222(b) of the Internal Revenue
Code of 1986 is amended by inserting ``(or, in the case
of an individual employed in an occupation or field of
work which has been designated, pursuant to section
4(a) of the Build Health Care Equipment in America Act,
as a medical short supply field for the calendar year
in which such taxable year began, an amount equal to
the applicable dollar limit multiplied by 2)'' before
the period at the end.
(2) Exclusion for certain employer payments of student
loans.--
(A) In general.--Paragraph (1) of section 127(c) of
the Internal Revenue Code of 1986 is amended by
striking ``and'' at the end of subparagraph (A), by
redesignating subparagraph (B) as subparagraph (C), and
by inserting after subparagraph (A) the following new
subparagraph:
``(B) in the case of an employee employed in an
occupation or field of work which has been designated
as a medical short supply field for a calendar year
pursuant to section 4(a) of the Build Health Care
Equipment in America Act, the payment by an employer
during such calendar year, whether paid to the employee
or to a lender, of principal or interest on any
qualified education loan (as defined in section
221(d)(1)) incurred by the employee, and''.
(B) Conforming amendment; denial of double
benefit.--Paragraph (1) of section 221(e) of the
Internal Revenue Code of 1986 is amended by inserting
before the period the following: ``, or for which an
exclusion is allowable under section 127 to the
taxpayer's employer by reason of the payment by such
employer of any indebtedness on a qualified education
loan of the taxpayer''.
(3) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after the date of the
enactment of this Act.
SEC. 5. 21ST CENTURY TECHNOLOGY FUND FOR STATE AND LOCAL GOVERNMENTS
LOOKING TO DRAW BUSINESSES TO THEIR RURAL REGIONS.
Title VI of the Rural Electrification Act of 1936 (7 U.S.C. 950bb
et seq.) is amended by adding at the end the following:
``SEC. 607. 21ST CENTURY TECHNOLOGY FUND FOR STATE AND LOCAL
GOVERNMENTS LOOKING TO DRAW BUSINESSES TO THEIR RURAL
REGIONS.
``(a) Definitions.--In this section:
``(1) Eligible entity.--The term `eligible entity' means an
entity eligible to receive assistance under the ReConnect
Program.
``(2) Eligible service area.--The term `eligible service
area' means a service area in which a project may be carried
out under the ReConnect Program.
``(3) Fund.--The term `Fund' means the 21st Century
Technology Fund for State and Local Governments Looking to Draw
Businesses to Their Rural Regions established by subsection
(b)(1).
``(4) Reconnect program.--The term `ReConnect Program'
means the Rural eConnectivity Pilot Program established under
section 779 of division A of the Consolidated Appropriations
Act, 2018 (Public Law 115-141; 132 Stat. 399).
``(b) Establishment of Fund.--
``(1) In general.--There is established in the Treasury of
the United States a fund, to be known as the `21st Century
Technology Fund for State and Local Governments Looking to Draw
Businesses to Their Rural Regions', consisting of--
``(A) such amounts as are appropriated to the Fund
under subsection (e); and
``(B) any interest and proceeds under paragraph
(3).
``(2) Investment of amounts.--The Secretary of the Treasury
shall invest such amounts in the Fund as are not, as determined
by the Secretary of Agriculture, required to meet current
withdrawals.
``(3) Credits to fund.--The interest on, and the proceeds
from the sale or redemption of, any obligations held in the
Fund shall be credited to, and form a part of, the Fund.
``(c) Rural Technology Infrastructure Assistance.--Using amounts in
the Fund, the Secretary shall provide assistance to eligible entities
to carry out projects in eligible service areas for the same purposes
as projects authorized under the ReConnect Program.
``(d) Applicability of ReConnect Program Requirements.--The
requirements, limitations, and authorities that apply to assistance
provided, and projects carried out, under the ReConnect Program shall
apply to assistance provided, and projects carried out, under this
section.
``(e) Authorization of Appropriations.--There are authorized to be
appropriated to the Fund such sums as are necessary to carry out this
section for each fiscal year.''.
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