1. Short title This Act may be cited as the Paid Sick Leave Credit Act of 2020 . 2. Payroll credit for required paid sick leave (a) In general In the case of a employer who elects (at such time and in such manner as the Secretary may provide) the application of this section there shall be allowed as a credit against the tax imposed by section 3111(a) of the Internal Revenue Code of 1986 for the first calendar quarter beginning after such election an amount equal to the excess (if any) of— (1) 90 percent of the qualified sick leave wages paid by an employer by reason of the requirements of section 2 of the Emergency Paid Sick Leave Act ; over (2) the aggregate credits allowed under this section with respect to all prior calendar quarters. (b) Limitations (1) Wages taken into account The amount of qualified sick leave wages which may be taken into account under subsection (a) for the taxable year with respect to any individual shall not exceed— (A) for any day (or portion thereof) the individual is on sick leave during the taxable year, $511