Sec. 13310. Prohibition on cash, gift cards, and other non-tangible personal property as employee achievement awards
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/bill/115/hr/1/unknown/section-13310A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subparagraph
(A)of section 274(j)(3) is amended— by striking The term and inserting the following: The term . by redesignating clauses (i), (ii), and
(iii)as subclauses (I), (II), and (III), respectively, and conforming the margins accordingly, and by adding at the end the following new clause: For purposes of clause (i), the term tangible personal property shall not include— cash, cash equivalents, gift cards, gift coupons, or gift certificates (other than arrangements conferring only the right to select and receive tangible personal property from a limited array of such items pre-selected or pre-approved by the employer), or vacations, meals, lodging, tickets to theater or sporting events, stocks, bonds, other securities, and other similar items. . The amendments made by this section shall apply to amounts paid or incurred after December 31, 2017.