S.1325 - Small Business Tax Credits Improvement Act

A bill to amend the Internal Revenue Code of 1986 to modify the small employer health insurance credit, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to modify the small employer health insurance credit, and for other purposes. as introduced.
  • Short: Small Business Tax Credits Improvement Act as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
07/18/13
 
 
 
 
 
 
 

Official Summary

Small Business Tax Credits Improvement Act - Amends the Internal Revenue Code, with respect to the tax credit for the health insurance expenses of small employers, to: (1) expand eligibility for the credit to employers having up to 50 (currently, 25) full-time equivalent employees whose ann

Official Summary

Small Business Tax Credits Improvement Act - Amends the Internal Revenue Code, with respect to the tax credit for the health insurance expenses of small employers, to:
(1) expand eligibility for the credit to employers having up to 50 (currently, 25) full-time equivalent employees whose annual wages do not exceed $75,000 (currently, $50,000);
(2) raise the employee threshold for triggering the phaseout of such credit from 10 to 20 full-time employees;
(3) 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 care exchange; and
(4) make such credit available to employee-owners and their dependents.

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