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

United States118th CongressHR-5207House of Representatives
Updated: Aug 15, 2023

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

Available versions
Introduced (House)View official text

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Timeline

  1. Referred to the House Committee on Ways and Means.

    House of Representatives

  2. Introduced in House

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