H.R. 7407 · 118th Congress
Small Business Dependent Care FSA Opportunity Act
- Stage
- In committee
- Sponsor
- Adrian Smith
- Introduced
- 2024-02-16
- Latest action
- 2024-02-16 · Introduced in House
Summary
Small Business Dependent Care FSA Opportunity Act
This bill allows certain small employers (employers with no more than 100 employees who received $5,000 in compensation from an employer) a new three-year tax credit for the startup costs of dependent care flexible spending plans. The amount of the credit is equal to the greater of $500 or the lesser of $250 for each eligible employee, or $5,000.