1. Short title This Act may be cited as the Providing Liquidity for Uncollectible Sales Act of 2020 or as the PLUS Act of 2020 . 2. Credit for uncollectible accounts of eligible wholesale distributors (a) In general Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding after section 45T the following new section: 45U. Wholesale distributor uncollectible accounts credit (a) In general For purposes of section 38, in the case of an eligible wholesale distributor, the wholesale distributor uncollectible accounts credit determined under this section for the taxable year is an amount equal to the qualified accounts receivables of such distributor which become uncollectible during such taxable year. (b) Eligible wholesale distributor For purposes of this section, the term eligible wholesale distributor means any person engaged in the trade or business of selling inventory to food and beverage establishments. (c) Qualified accounts receivable For purposes of this section— (1) In general The term qualified accounts receivable means any accounts receivable which was accrued pursuant to normal payment terms by an eligible wholesale distributor for the sale of inventory delivered on or before March 25, 2020, to a qualified food and beverage establishment. (2) Normal payment terms An amount shall be treated as accrued pursuant to normal payment terms if it is accrued under the applicable payment terms in effect on March 25, 2020, under an agreement established prior to that date between the eligible wholesale distributor and the qualified food and beverage establishment. (3) Presumption of uncollectability For purposes of this section, a qualified accounts receivable shall be treated as becoming uncollectible during the taxable year of the eligible wholesale distributor which includes July 15, 2020, if— (A) the qualified food and beverage establishment to which such qualified accounts receivable relates does not provide on-premises consumption pursuant to an order or