HR 7707
PLUS Act of 2020
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Providing Liquidity for Uncollectible Sales Act of 2020, or PLUS Act, creates a tax credit for eligible wholesale distributors. This credit is available if the distributor has uncollectible accounts receivable resulting from food and beverage establishments that temporarily ceased on-premises service due to government orders. The credit is based on accounts receivable accrued before March 25, 2020, and not paid by the end of the distributor’s tax year, provided the establishment remained closed for at least 30 days.
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Primary sponsor
Cosponsors
Elaine G. Luria
Rodney Davis
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