Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB28

Introduced
1/24/23  

Caption

Restaurant Revitalization Tax Credit Act This bill allows certain restaurants affected by the COVID-19 pandemic a credit against payroll tax liability up to 100% of the wages paid to their employees, not to exceed $25,000 in any calendar quarter.

Impact

If enacted, SB28 would significantly amend the Internal Revenue Code by establishing a new framework for payroll tax credits aimed specifically at restaurants. This legislation addresses the financial difficulties many of these businesses faced during the pandemic-related economic downturn, helping them to retain employees and stabilize their operations. The credit is partially refundable, meaning employers can receive some reimbursement, potentially easing cash flow challenges while supporting job retention in the sector.

Summary

Senate Bill 28, known as the Restaurant Revitalization Tax Credit Act, aims to provide financial relief to restaurants impacted by the COVID-19 pandemic. The bill allows eligible employers, particularly those within the restaurant industry, to receive a payroll tax credit that covers 100% of the wages paid to employees for each calendar quarter. However, this credit is capped at a maximum of $25,000 per employer per quarter, encompassing various stipulations to ascertain eligibility based on prior earnings and operational status during the pandemic.

Contention

While the intent behind SB28 is to bolster the struggling restaurant sector, there are aspects that may lead to contention in legislative discussions. Previously established guidelines for eligibility, including ensuring employers did not receive grant funds due to a lack of funding and meeting gross receipts criteria from 2019, pose barriers that could exclude some businesses. Critics may argue that such limitations could undermine the bill's effectiveness in providing widespread relief to all deserving establishments. Additionally, the coordination with the Small Business Administration for identifying eligible employers could present bureaucratic challenges, potentially complicating access to the benefits offered under this proposed law.

Companion Bills

US HB2575

Identical bill Restaurant Revitalization Tax Credit Act

Similar Bills

US SB70

Tribal Trust Land Homeownership Act of 2023 This bill sets forth requirements for the processing of a proposed residential leasehold mortgage, business leasehold mortgage, land mortgage, or right-of-way document by the Bureau of Indian Affairs (BIA). The BIA must notify lenders upon receipt of such documentation, perform a preliminary review of such documents not later than 10 days after receipt, and approve or disapprove of such documents within 20 or 30 days, depending on the type of application. Additionally, the bill sets forth requirements for the BIA regarding (1) response times for the completion of certified title status reports, (2) notification of delays in processing, and (3) the form of notices and delivery of certain reports. The bill also provides relevant federal agencies and Indian tribes with read-only access to the Trust Asset and Accounting Management System maintained by the BIA. The Government Accountability Office must report on digitizing documents for the purpose of streamlining and expediting the completion of mortgage packages for residential mortgages on Indian land. Finally, the bill establishes within the BIA's Division of Real Estate Services the position of Realty Ombudsman.

US SB35

New Parents Act of 2023 This bill allows parents to use a portion of their Social Security benefits for up to three months of paid parental leave after the birth or adoption of a child. To receive the parental leave benefit, parents must choose to either increase their retirement age or temporarily receive a reduction in Social Security benefits upon retirement, as specified.

US HB185

This bill nullifies the order issued by the Centers for Disease Control and Prevention titled Amended Order Implementing Presidential Proclamation on Advancing the Safe Resumption of Global Travel During the COVID-19 Pandemic and published on April 7, 2022. (The order restricts the entry of noncitizens who are not immigrants into the United States by air travel unless they are fully vaccinated against COVID-19 or otherwise attest that they will take public health measures to prevent the spread of the disease.) The bill also nullifies any successor or subsequent orders that require foreign persons traveling by air to show proof of a COVID-19 vaccination as a condition of entry and prohibits the use of federal funds to administer or enforce such a requirement.

US HB300

Settlement Agreement Information Database Act of 2023 This bill requires executive agencies to submit information regarding settlement agreements to a public database. Specifically, an agency must submit information regarding any settlement agreement (including a consent decree) entered into by the agency related to an alleged violation of federal law. If an agency determines that information regarding an agreement must remain confidential to protect the public interest, the agency must publish an explanation of why the information is confidential.

US HB23

Family and Small Business Taxpayer Protection Act This bill rescinds certain unobligated amounts made available to the Internal Revenue Service by the Inflation Reduction Act of 2022 for its enforcement activities and for funding certain Department of the Treasury tax agencies.

US HB26

Born-Alive Abortion Survivors Protection Act This bill establishes requirements for the degree of care a health care practitioner must provide in the case of a child born alive following an abortion or attempted abortion. Specifically, a health care practitioner who is present must (1) exercise the same degree of care as would reasonably be provided to any other child born alive at the same gestational age, and (2) ensure the child is immediately admitted to a hospital. Additionally, a health care practitioner or other employee who has knowledge of a failure to comply with the degree-of-care requirements must immediately report such failure to law enforcement. A health care practitioner who fails to provide the required degree of care, or a health care practitioner or other employee who fails to report such failure, is subject to criminal penalties—a fine, up to five years in prison, or both. An individual who intentionally kills or attempts to kill a child born alive is subject to prosecution for murder. The bill bars the criminal prosecution of a mother of a child born alive under this bill and allows her to bring a civil action against a health care practitioner or other employee for violations.

US HB22

Protecting America's Strategic Petroleum Reserve from China Act This bill prohibits the sale and export of crude oil from the Strategic Petroleum Reserve (SPR) to China. Specifically, the bill prohibits the Department of Energy (DOE) from selling petroleum products (e.g., crude oil) from the SPR to any entity that is under the ownership, control, or influence of the Chinese Communist Party. Further, DOE must require as a condition of any sale of crude oil from the SPR that the oil not be exported to China.

US HB397

Government Office Realignment And Closure Act of 2023 or the GORAC Act This bill directs the Government Accountability Office (GAO) to provide for an independent evaluation of federal agencies and programs to identify duplicative, wasteful, or outdated functions and provides for congressional consideration of legislation to implement recommendations from the evaluation. Specifically, the GAO must (1) procure the services of a nonfederal auditor to evaluate each federal program carried out in the previous 20 years, make recommendations on federal agencies and programs that should be realigned or eliminated, and report on such recommendations; and (2) take steps to assure that any work performed by such auditor complies with standards established by the GAO for audits of federal establishments, programs, activities, and functions. The GAO must provide for the relocation of federal employees whose positions are eliminated as a result of the implementation of recommendations included in the report.