Text of S 3548 116th: CARES Act Introduced version

cares act s.3548

For which the application is approved on or after the date of enactment of this Act, the Administrator shall, in lieu of the fee otherwise applicable under section 7(a)(18)(A) of the Small Business Act (15 U.S.C. 636(a)(18)(A)), collect no fee or reduce fees to the maximum extent possible.

Notwithstanding any other provision of the Higher Education Act of 1965 (20 U.S.C. 1001 et seq.), the Secretary shall cancel the borrower’s obligation to repay the portion of a loan made under part D of title IV of such Act for a recipient of assistance who withdraws from the institution during the payment period as a result of a qualifying emergency. A description of challenges in the coding, coverage, and payment processes under the Medicare program for medical products described in such paragraph. The penalties for failure to provide timely information under clause (i) of subparagraph (C) of section 1927(b)(3) and for providing false information under clause (ii) of such subparagraph shall apply to manufacturers and sponsors of a drug or biological product under this section with respect to information under subclause (I) in the same manner as such penalties apply to manufacturers under such clauses with respect to information under subparagraph (A) of such section. For purposes of determining additional payment amounts under clause (i), a manufacturer or sponsor of a drug or biological product that submits a request described in clause (iv)(I)(aa) shall submit to the Secretary information described in section 1927(b)(3)(A)(iii). Excludes receipt of items to be used exclusively for rendering health care services in the health care professional’s capacity as a volunteer described in subsection (a)(1).

Next Step in Care: Family Caregivers & Health Care Professionals Working Together

In the case of any taxable year beginning in 2019 or 2020, paragraph (1)(B) shall be applied by substituting 50 percent for 30 percent. For purposes of this title (other than this section), the credit allowed by reason of this subsection shall be treated as allowed under subpart C (and not this subpart). Section 170(b)(1)(A) of such Code, as amended by subsection (c)(2), is amended by striking and (C)(i) and inserting , (C)(i), and (D).

  • Who experiences adverse financial consequences as a result of being quarantined, being furloughed or laid off or having work hours reduced due to such virus or disease, being unable to work due to lack of child care due to such virus or disease, closing or reducing hours of a business owned or operated by the individual due to such virus or disease, or other factors as determined by the Secretary of the Treasury (or the Secretary’s delegate).
  • Undenatured ethanol is subject to the excise tax on distilled spirits that normally applies to alcoholic products for consumption.
  • The State ensures that applications for unemployment compensation, and assistance with the application process, are accessible in person, by phone, or online.
  • For purposes of subparagraph (B), the term controlled group means any group treated as a single employer under subsection (b), (c), (m), or (o) of section 414 of the Internal Revenue Code of 1986.
  • A training program to educate resource partner counselors on the resources and information described in subparagraph (A).
  • 85 percent of the balance of the financing outstanding at the time of disbursement of the loan, if such balance is less than or equal to $150,000.

Section 461(l)(1) of the Internal Revenue Code of 1986 is amended by striking December 31, 2017 and inserting December 31, 2020. In the case of a net operating loss arising in a taxable year beginning after December 31, 2017, to each taxable year following the taxable year of the loss. In the case of any net operating loss for a taxable year which is not a REIT year, such loss shall not be carried back to any taxable year which is a REIT year. A net operating loss for a REIT year shall not be a net operating loss carryback to any taxable year preceding cares act s.3548 the taxable year of such loss. Amounts appropriated by the preceding sentence shall be transferred from the general fund at such times and in such manner as to replicate to the extent possible the transfers which would have occurred to such Trust Fund had such amendments not been enacted. In the case of any charitable contribution of food during 2020 to which section 170(e)(3)(C) of the Internal Revenue Code of 1986 applies, subclauses (I) and (II) of clause (ii) thereof shall each be applied by substituting 25 percent for 15 percent.

For Family Caregivers

The total credit phases out at a rate of 5% of adjusted gross income (AGI) above $75,000 ($150,000 for married joint returns). The total credit phases out at a rate of 5% of adjusted gross income (AGI) above $75,000 ($112,500 for head of household filers, $150,000 for married joint returns). The Mayor’s Office for Economic Opportunity uses evidence and innovation to reduce poverty and increase equity.

The Secretary of the Treasury (or the Secretary’s delegate) shall waive any penalty under section 6656 of the Internal Revenue Code of 1986 for any failure to make a deposit of the tax imposed by section 3111(a) or 3221(a) of such Code if the Secretary determines that such failure was due to the anticipation of the credit allowed under this section. The Director of the Office of Management and Budget shall have the authority to exclude for good cause from the requirements under subsection (b) certain employers of the United States Government with respect to certain categories of Executive Branch employees. Section 5111(2) of the Emergency Paid Sick Leave Act (division E of the Families First Coronavirus Response Act) is amended by striking section 5102(a)(5) and inserting paragraphs (4) and (5) of section 5102(a)(5). An employer shall not be required to pay more than $200 per day and $10,000 in the aggregate for each employee for paid leave under this section.