S. 379 · 114th Congress

Small Business Tax Credit Accessibility Act

Stage
In committee
Introduced
2015-02-05
Latest action
2016-05-18 · Committee on Small Business and Entrepreneurship. Hearings held.

Summary

Small Business Tax Credit Accessibility Act

Amends the Internal Revenue Code, with respect to the small employer health care insurance tax credit, to: (1) revise the definition of "eligible small employer" to mean an employer with not more than 50 (currently, 25) full-time employees; (2) modify the phaseout formula for such credit to base such phaseout on number of employees and average annual wages; (3) extend from two to three consecutive taxable years the period during which an employer may claim such credit; and (4) eliminate the requirement that employers contribute the same percentage of cost of each employee's health insurance and the cap limiting eligible employer contributions to average premiums paid to a state health insurance exchange.