A bill to ensure that health care providers do not incur additional Federal income tax liability due to receipt of assistance through the Provider Relief Fund during the COVID-19 pandemic.

Bill: 116-s-4525
Sponsor: full_name: Sen. Blackburn, Marsha [R-TN]
Introduced: 2020-08-12
Policy area: Taxation
Subjects: Appropriations

Business expenses

Cardiovascular and respiratory health

Emergency medical services and trauma care

Government lending and loan guarantees

Health programs administration and funding

Income tax deductions

Income tax exclusion

Infectious and parasitic diseases

Small business

Wages and earnings
Latest action: action_date: 2020-08-12
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2020-08-12
action_desc: Introduced in Senate
text: <p>This bill affirms that any payment or benefit provided to a taxpayer under the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act due to COVID-19 (i.e., coronavirus disease 2019) shall be excluded from gross income, for income tax purposes. Additionally, no deduction shall be denied or reduced, no tax attribute shall be reduced, and no basis increase shall be denied resulting from such exclusion. </p>

tv_txt: II 116th CONGRESS 2d Session S. 4525 IN THE SENATE OF THE UNITED STATES August 12, 2020 Mrs. Blackburn introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To ensure that health care providers do not incur additional Federal income tax liability due to receipt of assistance through the Provider Relief Fund during the COVID–19 pandemic.

1. Tax treatment of Provider Relief Fund payments to health care providers (a) Taxability Notwithstanding any other law, for purposes of the Internal Revenue Code of 1986— (1) the amount of any CARES Act Provider Relief Fund payment shall be excluded from the gross income of the recipient of such payment; and (2) no deduction shall be denied or reduced, no tax attribute shall be reduced, and no basis increase shall be denied, by reason of the exclusion from gross income provided by this subsection. (b) CARES Act Provider Relief Fund payment For purposes of this section, the term CARES Act Provider Relief Fund payment means any grant or similar assistance provided by the Secretary of Health and Human Services under the provider relief fund established through the Public Health and Social Services Emergency Fund under the Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ), including any additional amounts appropriated to such fund under the Paycheck Protection Program and Health Care Enhancement Act ( Public Law 116–139 ) or any other provision of law enacted after the date of enactment of such Act.