Summary: H.R.8083 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.8083. Bill summaries are authored by CRS.

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Introduced in House (08/21/2020)

Preserving Employee Retirement Savings Act of 2020

This bill allows an employer that has a temporary substantial business hardship and, if not a tax-exempt or cooperative organization, does not have more that $41.5 million in gross receipts a tax credit for 20% of retirement contributions made to employee retirement accounts. The amount of such credit for any employer may not exceed $100,000 in any taxable year.