HOUSE 5207118th CongressReferred to the House Committee on Ways and Means.
To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.
- 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 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).
Cosponsors (2)
- Brian Fitzpatrick (R-PA)
- Mike Kelly (R-PA)
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.