Legis Daily

Small Business Dependent Care FSA Opportunity Act

USA118th CongressHR-7407| House 
| Updated: 2/16/2024
Adrian Smith

Adrian Smith

Republican Representative

Nebraska

Cosponsors (2)
Danny K. Davis (Democratic)Randy Feenstra (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Small Business Dependent Care FSA Opportunity Act This bill allows certain small employers (employers with no more than 100 employees who received $5,000 in compensation from an employer) a new three-year tax credit for the startup costs of dependent care flexible spending plans. The amount of the credit is equal to the greater of $500 or the lesser of $250 for each eligible employee, or $5,000.
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Timeline
Feb 16, 2024
Introduced in House
Feb 16, 2024
Referred to the House Committee on Ways and Means.
  • February 16, 2024
    Introduced in House


  • February 16, 2024
    Referred to the House Committee on Ways and Means.

Taxation

Small Business Dependent Care FSA Opportunity Act

USA118th CongressHR-7407| House 
| Updated: 2/16/2024
Small Business Dependent Care FSA Opportunity Act This bill allows certain small employers (employers with no more than 100 employees who received $5,000 in compensation from an employer) a new three-year tax credit for the startup costs of dependent care flexible spending plans. The amount of the credit is equal to the greater of $500 or the lesser of $250 for each eligible employee, or $5,000.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 16, 2024
Introduced in House
Feb 16, 2024
Referred to the House Committee on Ways and Means.
  • February 16, 2024
    Introduced in House


  • February 16, 2024
    Referred to the House Committee on Ways and Means.
Adrian Smith

Adrian Smith

Republican Representative

Nebraska

Cosponsors (2)
Danny K. Davis (Democratic)Randy Feenstra (Republican)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted