Excluding Pandemic Unemployment Compensation from Income Act

Bill: 117-hr-435
Sponsor: full_name: Rep. Velazquez, Nydia M. [D-NY-7]
Introduced: 2021-01-21
Policy area: Taxation
Subjects: Cardiovascular and respiratory health

Emergency medical services and trauma care

Income tax exclusion

Infectious and parasitic diseases

Poverty and welfare assistance

Unemployment
Latest action: action_date: 2021-01-21
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2021-01-21
action_desc: Introduced in House
text: <p><b>Excluding Pandemic Unemployment Compensation from Income Act</b></p> <p>This bill excludes from gross income, for income tax purposes, unemployment compensation paid under provisions of the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act relating to the COVID-19 (i.e., coronavirus disease 2019) pandemic. It also disregards such compensation for purposes of determining eligibility for federally-assisted programs. </p>

tv_txt: I 117th CONGRESS 1st Session H. R. 435 IN THE HOUSE OF REPRESENTATIVES January 21, 2021 Ms. Velázquez (for herself, Ms. Norton , Ms. Williams of Georgia , Mr. Smith of Washington , Ms. Jayapal , Mr. Meeks , Mr. Welch , Ms. Schakowsky , Ms. Kaptur , Ms. Tlaib , Ms. Wild , Ms. Newman , Ms. Lee of California , Ms. Meng , and Mr. Nadler ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To exclude from tax certain payments of Federal pandemic unemployment compensation, and for other purposes.

1. Short title This Act may be cited as the Excluding Pandemic Unemployment Compensation from Income Act . 2. Certain payments of Federal pandemic unemployment compensation not includible in gross income or taken into account in determining certain means-tested benefits (a) Exclusion from gross income For purposes of the Internal Revenue Code of 1986, gross income shall not include the amount specified in section 2104(b)(3) of the CARES Act to the extent such amount is received by the taxpayer pursuant to section 2102, 2104, or 2107 of such Act. (b) Disregarded in the administration of Federal programs and federally assisted programs For purposes of section 6409 of the Internal Revenue Code of 1986, any amount excluded from gross income under subsection (a) shall be treated in the same manner as a refund under such Code. (c) Effective dates (1) Exclusion Subsection (a) shall apply to taxable years ending after the date of the enactment of the CARES Act. (2) Disregard Subsection (b) shall apply to amounts received after the date of the enactment of the CARES Act.