Restaurant Revitalization Tax Credit Act

This bill creates a refundable tax credit for restaurants and food service businesses that suffered pandemic-related revenue losses. Eligible businesses can claim up to $25,000 per calendar quarter in credit against payroll taxes for wages paid between January 2023 and December 2023, provided they met revenue loss criteria (50% drop in 2020 or 70% in 2021 vs. 2019) and were established before March 2020. The credit directly helps small food service businesses by offsetting payroll costs during recovery, with excess credit refundable if it exceeds payroll tax obligations. It applies only to businesses that qualified under the American Rescue Plan Act but did not receive initial SBA grants.