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H.R. 7473 (116th): Main Street Revival Act of 2020

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jul 1, 2020.

Main Street Revival Act of 2020

This bill allows a specified small business to elect to pay its first-year employment taxes in four equal installments. The bill defines specified small business as any HUBZone business (a business operating in a historically underutilized business zone as defined by the Small Business Act) that is not reasonably expected to employ more than 25 full-time employees in its first year of operation.