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H.R. 9051 (116th): CASH Act of 2020


The text of the bill below is as of Dec 30, 2020 (Placed on Calendar in the Senate). The bill was not enacted into law.


II

Calendar No. 645

116th CONGRESS

2d Session

H. R. 9051

IN THE SENATE OF THE UNITED STATES

December 29, 2020

Received; read the first time

December 30, 2020

Read the second time and placed on the calendar

AN ACT

To amend the Internal Revenue Code of 1986 to increase recovery rebate amounts to $2,000 for individuals, and for other purposes.

1.

Short title

This Act may be cited as the Caring for Americans with Supplemental Help Act of 2020 or the CASH Act of 2020.

2.

Recovery rebate amounts increased

(a)

In general

Section 6428A of the Internal Revenue Code of 1986, as added by the COVID-related Tax Relief Act of 2020, is amended by striking $600 each place it appears and inserting $2,000, and by striking $1,200 each place it appears and inserting $4,000.

(b)

Effective date

The amendments made by this section are contingent upon the enactment of the COVID-related Tax Relief Act of 2020 and shall apply (if at all) as if included in the enactment of section 272 of such Act.

3.

Dependents taken into account in determining credit and rebates

(a)

Recovery rebates

(1)

In general

Section 6428(a)(2) of the Internal Revenue Code of 1986 is amended by striking qualifying children (within the meaning of section 24(c)) and inserting dependents (as defined in section 152).

(2)

Conforming amendments

(A)

Section 6428(f)(2) of such Code is amended by inserting and subsection (a)(2) were applied by substituting qualifying children (within the meaning of section 24(c)) for dependent (as defined in section 152) before the period at the end.

(B)

Section 6428(g) of such Code, as amended by the COVID-related Tax Relief Act of 2020, is amended—

(i)

in paragraph (1), by striking qualifying child each place it appears and inserting dependent,

(ii)

in paragraph (2)(C), by inserting (determined after the application of subsection (f)(2)) after subsection (a)(2), and

(iii)

in paragraph (3)(B), by inserting or dependent after child both places it appears.

(3)

Effective date

The amendments made by this subsection are contingent upon the enactment of the COVID-related Tax Relief Act of 2020 and shall apply (if at all) as if included in the enactment of section 273 of such Act.

(b)

Additional 2020 recovery rebates

(1)

In general

Section 6428A(a)(2) of the Internal Revenue Code of 1986, as added by the COVID-related Tax Relief Act of 2020, is amended by striking qualifying children (within the meaning of section 24(c)) and inserting dependents (as defined in section 152).

(2)

Authority to make advance refunds without regard to modified definition of dependent

Section 6428A(f) of such Code is amended by adding at the end the following new paragraph:

(7)

Authority to make advance refunds without regard to modified definition of dependent

To the extent the Secretary determines appropriate to make or allow the maximum number of advance refunds by the deadline described in paragraph (3)(A)(ii), the Secretary may determine the advance refund amounts under this subsection without regard to the amendments made by paragraphs (1) and (3) of section 3(b) of the CASH Act of 2020.

.

(3)

Conforming amendments

(A)

Section 6428A(f)(2)(B) of such Code is amended by striking qualifying child and inserting dependent.

(B)

Section 6428A(g) of such Code is amended by striking qualifying child each place it appears and inserting dependent.

(C)

Section 6428A(g)(4)(B) of such Code is amended by striking such child and inserting such dependent.

(4)

Effective date

The amendments made by this subsection are contingent upon the enactment of the COVID-related Tax Relief Act of 2020 and shall apply (if at all) as if included in the enactment of section 272 of such Act.

4.

Budgetary effects

(a)

Statutory PAYGO Scorecards

The budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010.

(b)

Senate PAYGO Scorecards

The budgetary effects of this Act shall not be entered on any PAYGO scorecard maintained for purposes of section 4106 of H. Con. Res. 71 (115th Congress).

Passed the House of Representatives December 28, 2020.

Cheryl L. Johnson,

Clerk

December 30, 2020

Read the second time and placed on the calendar