Expressing support for the designation of May 2023 as "Renewable Fuels Month" to recognize the important role that renewable fuels play in reducing carbon impacts, lowering fuel prices for consumers, supporting rural communities, and lessening reliance on foreign adversaries.
- Last Action
- 5/26/2023
Actions
- 2023-01-24Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2023-01-24Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2023-01-24Introduced in House
- 2023-01-24Introduced in House
CRS Summary
As of 2023-01-24 (00)
Medical Manufacturing, Economic Development, and Sustainability Act of 2023 or the MMEDS Act of 2023
This bill provides incentives for relocating medical manufacturing facilities in the United States and for manufacturing medical products (i.e., drugs and devices) in economically distressed zones. Specifically, the bill allows a income tax credit for 40% of the sum of wages paid in a medical manufacturing economically distressed zone, employee fringe benefit expenses, and depreciation and amortization allowances with respect to qualified medical manufacturing facility property, and a credit for economically distressed zone products and services acquired by domestic medical manufacturers. The bill increases the credit rate for minority businesses.
Cosponsors (3)
- Maria Salazar (R-FL)
- Carlos Gimenez (R-FL)
- Nicole Malliotakis (R-NY)
Subjects
- Aging
- Business expenses
- Business investment and capital
- Cardiovascular and respiratory health
- Community life and organization
- Congressional oversight
- Drug safety, medical device, and laboratory regulation
- Economic development
- Emergency medical services and trauma care
- Government studies and investigations
- Health technology, devices, supplies
- Housing and community development funding
- Immunology and vaccination
- Income tax credits
- Income tax deductions
- Industrial facilities
- Infectious and parasitic diseases
- Manufacturing
- Medical research
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.