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Senate Bill 4268
116th Congress(2019-2020)
Employer Assistance Coordination Act
Introduced
Introduced
Introduced in Senate on Jul 22, 2020
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Introduced in Senate 
Jul 22, 2020
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Introduced in Senate(Jul 22, 2020)
Jul 22, 2020
No Linkage Found
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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S. 4268 (Introduced-in-Senate)


116th CONGRESS
2d Session
S. 4268


To improve coordination between the paycheck protection program and employee retention tax credit.

IN THE SENATE OF THE UNITED STATES

July 22, 2020

Ms. Hassan (for herself and Mr. Burr) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To improve coordination between the paycheck protection program and employee retention tax credit.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Employer Assistance Coordination Act”.

SEC. 2. Improved coordination between paycheck protection program and employee retention tax credit.

(a) Amendment to paycheck protection program.—Section 1106(a)(8) of the CARES Act (Public Law 116–136) is amended by inserting “, except that such costs shall not include qualified wages taken into account in determining the credit allowed under section 2301 of this Act” before the period at the end.

(b) Amendments to employee retention tax credit.—

(1) IN GENERAL.—Section 2301(g) of the CARES Act (Public Law 116–136) is amended to read as follows:

“(g) Election To not take certain wages into account.—

“(1) IN GENERAL.—This section shall not apply to qualified wages paid by an eligible employer with respect to which such employer makes an election (at such time and in such manner as the Secretary may prescribe) to have this section not apply to such wages.

“(2) COORDINATION WITH PAYCHECK PROTECTION PROGRAM.—The Secretary, in consultation with the Administrator of the Small Business Administration, shall issue guidance providing that payroll costs paid or incurred during the covered period shall not fail to be treated as qualified wages under this section by reason of an election under paragraph (1) to the extent that a covered loan of the eligible employer is not forgiven by reason of a decision under section 1106(g). Terms used in the preceding sentence which are also used in section 1106 shall have the same meaning as when used in such section.”.

(2) CONFORMING AMENDMENTS.—

(A) Section 2301 of the CARES Act (Public Law 116–136) is amended by striking subsection (j).

(B) Section 2301(l) of the CARES Act (Public Law 116–136) is amended by striking paragraph (3) and by redesignating paragraphs (4) and (5) as paragraphs (3) and (4), respectively.

(c) Effective date.—The amendments made by this section shall take effect as if included in the provisions of the CARES Act (Public Law 116–136) to which they relate.