To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.
United States117th CongressHR-7505House of Representatives
Updated: Apr 14, 2022
Summary
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).
Bill texts
All available records shown.
Timeline
Referred to the House Committee on Ways and Means.
House of Representatives
Introduced in House
All available records shown.