119-HR2279
No Tax on LOSAP Act
Last action was on 3-21-2025
SenateCurrent status is Referred to the House Committee on Ways and Means.
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119th CONGRESS
1st Session
H. R. 2279
1. Short title2. Qualified payment exclusion amount increased3. Clarification that length of service awards are included in the qualified payment definition1. Short title
This Act may be cited as the "No Tax on Length of Service Award Programs Act" or the "No Tax on LOSAP Act".
2. Qualified payment exclusion amount increased
(a) In general - Section 139B(c)(2)(B) of the Internal Revenue Code of 1986 is amended by striking "$50" and inserting "$1,000".
(b) Effective date - The amendment made by this section shall apply to amounts awarded after the date of the enactment of this Act.
3. Clarification that length of service awards are included in the qualified payment definition
(a) Clarification - Section 139B(c)(2)(A) of such Code is amended by inserting ", and including payments under any length of service award program" after ""(whether reimbursement or otherwise"".
(b) Effective date - The amendment made by this section shall apply to amounts awarded after the date of the enactment of this Act.