H.R. 2632 · 112th Congress
Life Sciences Jobs and Investment Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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NunesSponsor11 cosponsors · 6 D, 5 R
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Altmire
CD
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Dent
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Fattah
JG
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Gerlach
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Meehan
BP
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Pascrell
AS
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Schwartz
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Smith
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Sires
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Fitzpatrick
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Brady7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Life Sciences Jobs and Investment Act of 2011 - Amends the Internal Revenue Code to allow: (1) an increased research tax credit for qualified initial life sciences research expenses; and (2) certain corporations a tax deduction for dividends received which are reinvested solely in the United States to hire scientists and researchers engaged in life science…
What it does: CRS summary · Introduced in House · Jul 25, 2011
Life Sciences Jobs and Investment Act of 2011 - Amends the Internal Revenue Code to allow: (1) an increased research tax credit for qualified initial life sciences research expenses; and (2) certain corporations a tax deduction for dividends received which are reinvested solely in the United States to hire scientists and researchers engaged in life science research, fund life science research at research consortia, eligible small businesses, universities, and federal laboratories, or build or lease new facilities to be used primarily for qualified life sciences research. Terminates such tax incentives after 2016.
Defines "qualified initial life sciences research expenses" as amounts, up to $150 million, attributable to the study of biology, biochemistry, biophysics, bioengineering, microbiology, genetics, or physiology, but excluding sociology or psychology.
Directs the Commissioner of Internal Revenue to take necessary steps to ensure full compliance with the provisions of this Act and to report to Congress on the status of such compliance and related enforcement.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Life Sciences Jobs and Investment Act of 2011
Latest action (Jul 25, 2011): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 25, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.