119th CongressH. R. 2279
Introduced in House
No Tax on LOSAP Act
SEC. 1. SHORT TITLETrack this section →
This Act may be cited as the No Tax on Length of Service Award Programs Act or the No Tax on LOSAP Act.
SEC. 2. QUALIFIED PAYMENT EXCLUSION AMOUNT INCREASEDTrack this section →
(a) In general Section 139B(c)(2)(B) of the Internal Revenue Code of 1986 is amended by striking $50 and inserting $1,000. (b) Effective date The amendment made by this section shall apply to amounts awarded after the date of the enactment of this Act.
SEC. 3. CLARIFICATION THAT LENGTH OF SERVICE AWARDS ARE INCLUDED IN THE QUALIFIED PAYMENT DEFINITIONTrack this section →
(a) Clarification Section 139B(c)(2)(A) of such Code is amended by inserting, and including payments under any length of service award program after (whether reimbursement or otherwise. (b) Effective date The amendment made by this section shall apply to amounts awarded after the date of the enactment of this Act.
•HR 2279 IHText from GovInfo