Legis Daily

To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.

USA117th CongressHR-7505| House 
| Updated: 4/14/2022
Vern Buchanan

Vern Buchanan

Republican Representative

Florida

Cosponsors (1)
Mike Kelly (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill expands the tax credit for increasing research activities to add a new credit amount equal to 14% of specified medical research expenditures. The bill defines specified medical research expenditures as amounts paid or incurred for research with respect to any qualified countermeasure (i.e., a drug, biological product, or device determined to be a priority in protecting against harm from a biological agent or adverse health condition).
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-7555
To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.
Apr 14, 2022
Introduced in House
Apr 14, 2022
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-7555
    To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.


  • April 14, 2022
    Introduced in House


  • April 14, 2022
    Referred to the House Committee on Ways and Means.

Taxation

To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.

USA117th CongressHR-7505| House 
| Updated: 4/14/2022
This bill expands the tax credit for increasing research activities to add a new credit amount equal to 14% of specified medical research expenditures. The bill defines specified medical research expenditures as amounts paid or incurred for research with respect to any qualified countermeasure (i.e., a drug, biological product, or device determined to be a priority in protecting against harm from a biological agent or adverse health condition).
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-7555
To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.
Apr 14, 2022
Introduced in House
Apr 14, 2022
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-7555
    To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.


  • April 14, 2022
    Introduced in House


  • April 14, 2022
    Referred to the House Committee on Ways and Means.
Vern Buchanan

Vern Buchanan

Republican Representative

Florida

Cosponsors (1)
Mike Kelly (Republican)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted