[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 3625 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 3625

To amend the Internal Revenue Code of 1986 to temporarily reinstate the 
   employee retention credit for employers subject to closure due to 
                               COVID-19.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 10, 2022

Ms. Hassan (for herself, Mr. Scott of South Carolina, Mr. Warner, Mrs. 
 Capito, and Mr. Cardin) 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 temporarily reinstate the 
   employee retention credit for employers subject to closure due to 
                               COVID-19.

    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 ``Employee Retention Tax Credit 
Reinstatement Act''.

SEC. 2. TEMPORARY REINSTATEMENT OF EMPLOYEE RETENTION CREDIT FOR 
              EMPLOYERS SUBJECT TO CLOSURE DUE TO COVID-19.

    (a) In General.--Section 3134 of the Internal Revenue Code of 1986 
(as amended by section 80604 of the Infrastructure Investment and Jobs 
Act) is amended--
            (1) in subsection (c)(5), by striking ``and'' at the end of 
        subparagraph (A), by striking the period at the end of 
        subparagraph (B) and inserting ``, and'', and by adding at the 
        end the following new subparagraph:
                    ``(C) which, with respect to such calendar quarter, 
                is not described in subclause (I) or (II) of paragraph 
                (2)(A)(ii).'', and
            (2) in subsection (n), by striking ``October 1, 2021 (or, 
        in the case of wages paid an eligible employer which is a 
        recovery startup business, January 1, 2022)'' and inserting 
        ``January 1, 2022''.
    (b) Effective Date.--The amendments made by this section shall 
apply to calendar quarters beginning after September 30, 2021.
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