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Increased tax credit for employers of military reservists.

This act increases the tax credit for companies that pay employees who are military reservists during their active duty. This means employers will receive greater financial support, potentially encouraging them to hire and support individuals serving in the military. These changes may indirectly impact the financial stability of reservists and their families.
Key points
The tax credit for employers paying reservists will increase from 20% to 50%.
The maximum credit amount of $20,000 will be adjusted annually for inflation, starting from 2023.
These changes will apply to payments made after the act's enactment date.
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Additional Information
Print number: 118_HR_3253
Sponsor: Rep. Panetta, Jimmy [D-CA-19]
Process start date: 2023-05-11
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Reservist Pay Equity Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3253.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-05-11.

What are the main provisions?

Key points include:

  • The tax credit for employers paying reservists will increase from 20% to 50%.
  • The maximum credit amount of $20,000 will be adjusted annually for inflation, starting from 2023.
  • These changes will apply to payments made after the act's enactment date.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Panetta, Jimmy [D-CA-19].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Labor Security