Vote Smart's Synopsis:

Vote to pass a bill that appropriates funds for disaster relief programs and expands tax credits to respond to recent natural disasters and emergencies in Puerto Rico and other US territories.

Highlights:

• Appropriates $100 million to the Department of Education for hurricane education recovery in the most impacted and distressed areas resulting from earthquakes and other major natural disasters (Sec. 3, Division A, Title II).

• Appropriates $4 billion to the Department of Housing and Urban Development for community planning and development related to disaster relief, long-term recovery, restoration of infrastructure and housing, economic revitalization, and mitigation in the most impacted and distressed areas resulting from earthquakes and other major natural disasters (Sec. 3, Division A, Title III).

• Appropriates $6.75 million to the Department of Energy for cybersecurity, energy security, and emergency responses (Sec. 3, Division A, Title I).

• Appropriates $15 million to the Department of Energy for electricity costs related to natural disasters in US territories, including technical assistance related to electrical grids (Sec. 3, Division A, Title I).

• Appropriates $1.25 billion to the emergency relief program within the Federal Highway Administration of the Department of Transportation (Sec. 3, Division A, Title III).

• Appropriates $40 million to Puerto Rico for disaster nutrition assistance in response to earthquakes and other major natural disasters (Title IV).

• Requires the Secretary of the Treasury to make payments to Puerto Rico for earned income tax credits equal to the following (Divison B, Sec. 7529):

• The specified matching amount for such calendar year; plus

• In the case of calendar years 2021 through 2025, the lesser of either:

• The expenditures made by Puerto Rico during such calendar year for education efforts for individual taxpayers and tax return preparers; or

• $1 million. 

• Prohibits the Secretary from making any payments toward the reformed earned income tax credits described in the above highlight unless Puerto Rico has an earned credit that increases the percentage of earned income that is allowed as a credit for each group of individuals, in a manner designed to substantially increase workforce participation (Division B, Sec. 7529).

• Requires the Secretary to allocate funds to Puerto Rico in order to provide an employee retention credit for individuals employed in a qualified Puerto Rico disaster zone (Sec. 108).

• Specifies that families in Puerto Rico and other US territories who have 1 or 2 children will be treated the same as families with 3 or more children when determining the number of child tax credits awarded (Sec. 103).

• Increases Puerto Rico’s low-income housing credit ceiling for the 2020 calendar year by $50 million (Division B, Sec. 105).

• Increases the new markets tax credit limitation for 2020 and 2021 by $500 million, which will be allocated among community development entities to make qualified low-income community investments (Division B, Sec. 106).

Full Bill Text

Full Bill Text