CERTS Tax Exemption Act

Bill 118 hr 3510, also known as the CERTS Tax Exemption Act, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to provide tax exemptions for certain entities that have received financial assistance under the Coronavirus Economic Relief for Transportation Services (CERTS) program.

The CERTS program was established to provide financial assistance to transportation service providers who have been negatively impacted by the COVID-19 pandemic. This program has provided grants to eligible entities to help them cover expenses and keep their operations running during this challenging time.

The CERTS Tax Exemption Act seeks to ensure that these grant funds are not subject to federal income tax. This would help the recipients of the grants to maximize the impact of the financial assistance they have received and continue to provide essential transportation services to the public. Overall, the CERTS Tax Exemption Act aims to support transportation service providers who have been struggling due to the pandemic and ensure that they can continue to operate effectively. This bill is currently under review in Congress and may be subject to amendments or changes before it is passed into law.