To amend the Internal Revenue Code of 1986 to make a portion of research credit refundable for certain small businesses engaging in specified medical research.
- Last Action
- 8/15/2023
Actions
- 2023-08-15Referred to the House Committee on Ways and Means.
- 2023-08-15Introduced in House
- 2023-08-15Introduced in House
CRS Summary
As of 2023-08-15 (00)
This bill allows for the refundability of a portion of the tax credit for increasing research activities for small businesses (gross receipts not exceeding $1 million) engaged in specified medical research. Under the Public Health Service Act, specified medical research means research with respect to qualified countermeasures (i.e., a drug, biological product, or device for preventing harm from any biological agent or from a condition that may result in adverse health consequences or death).
Cosponsors (2)
- Brian Fitzpatrick (R-PA)
- Mike Kelly (R-PA)
Sourced from Congress.gov (public domain).
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