Construction Jobs During Coronavirus Act

Bill: 116-hr-7874
Sponsor: full_name: Rep. Harder, Josh [D-CA-10]
Introduced: 2020-07-30
Policy area: Taxation
Subjects: Administrative law and regulatory procedures

Building construction

Department of the Treasury

Housing finance and home ownership

Income tax rates

Real estate business
Latest action: action_date: 2020-07-30
text: Referred to the Subcommittee on Select Revenue Measures.

Summaries:
action_date: 2020-07-30
action_desc: Introduced in House
text: <p><b>Construction Jobs During Coronavirus Act </b></p> <p>This bill assigns a zero tax rate on the taxable income of taxpayers engaged in the trade or business of home construction during the period beginning on January 1, 2020, and ending on the date on which the COVID-19 (i.e., coronavirus disease 2019) public health emergency ends. </p>

tv_txt: I 116th CONGRESS 2d Session H. R. 7874 IN THE HOUSE OF REPRESENTATIVES July 30, 2020 Mr. Harder of California introduced the following bill; which was referred to the Committee on Ways and Means A BILL To temporarily provide a zero rate of Federal income tax on income properly attributable to the trade or business of home construction.

1. Short title This Act may be cited as the Construction Jobs During Coronavirus Act . 2. Zero rate of Federal income tax on income properly attributable to the trade or business of home construction (a) In general In the case of any specified taxable year of a taxpayer engaged in the trade or business of home construction, the rate of tax imposed under section 1 or 15 of the Internal Revenue Code of 1986 on so much of the taxpayer’s taxable income as is properly allocable to such trade or business shall be zero percent. (b) Trade or business of home construction For purposes of this section, the term trade or business of home construction means the trade or business of constructing dwelling units in the United States. Such term shall include the construction of components of such dwelling units only if such construction is performed at the location of the final assembly of such dwelling unit. Such term shall not include any trade or business if such trade or business consists of services rendered as an employee. (c) Specified taxable year For purposes of this section, the term specified taxable year means any taxable year beginning during the period beginning on January 1, 2020, and ending on the date on which the nationwide public health emergency declared under section 319 of the Public Health Service Act as a result of COVID-19 ends. (d) Regulations The Secretary of the Treasury (or the Secretary’s designee) shall issue such regulations or other guidance as may be necessary or appropriate to carry out this section, including regulations or other guidance providing for the proper application of sections 1 and 15 of the Internal Revenue Code of 1986 to taxable income to which subsection (a) of this section does not apply.