Sec. 403. Safe School Student Protective Equipment Tax Credit
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/bill/116/s/4537/is/section-403·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In the case of an individual, there shall be allowed as a credit against the tax imposed by subtitle A of the Internal Revenue Code of 1986 an amount equal to the lesser of— the sum of any eligible expenses paid or incurred by the taxpayer during the taxable year, or $500. The credit allowed by subsection
(a)shall be treated as allowed by subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986. For purposes of this section— The term eligible expenses means any expenses which are paid or incurred by the taxpayer— for any equipment or products which are used by a qualified student to prevent such student from contracting or transmitting COVID–19, including masks, gloves, and disinfectants, and before January 1, 2022. The term qualified student means an individual who— is a qualifying child (as defined in section 152(c) of the Internal Revenue Code of 1986) of the taxpayer, and attends an elementary school or secondary school (as such terms are defined in section 8101 of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 7801 )) which, during the school year beginning with or within the taxable year, is operating in a manner which is substantially similar to the manner in which such school operated during the school year which began in 2018. The Secretary of the Treasury (or the Secretary's delegate), in coordination with the Secretary of Education, shall prescribe such regulations or other guidance as may be necessary to carry out the purposes of this section, including any such regulations or guidance as are deemed necessary to allow schools to operate in a manner which satisfies the requirements described in subsection (c)(2)(B). This section shall only apply to amounts paid or incurred in taxable years beginning after December 31, 2019.
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Sec. 403
Safe School Student Protective Equipment Tax Credit
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