S. 3718

Unemployment Benefit Tax Suspension Act of 2008

Latest

II

110th CONGRESS

2d Session

S. 3718

IN THE SENATE OF THE UNITED STATES

December 8 (legislative day, November 20), 2008

Ms. Snowe introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to suspend the taxation of unemployment compensation for 2 years.

1.

Short title

This Act may be cited as the Unemployment Benefit Tax Suspension Act of 2008.

2.

Suspension of tax on unemployment compensation

(a)

In general

Section 85 of the Internal Revenue Code of 1986 (relating to unemployment compensation) is amended by adding at the end the following new subsection:

(c)

Temporary suspension

Subsection (a) shall not apply to taxable years beginning after December 31, 2007, and before January 1, 2010.

.