H.R. 5520 · 116th Congress
Research and Development Tax Credit Expansion Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
NeguseSponsor1 cosponsor · 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill modifies the refundable research tax credit for new and small businesses to (1) increase the limit on refundability to $500,000, with an adjustment for inflation; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross…
What it does: CRS summary · Introduced in House · Dec 19, 2019
Research and Development Tax Credit Expansion Act of 2019
This bill modifies the refundable research tax credit for new and small businesses to (1) increase the limit on refundability to $500,000, with an adjustment for inflation; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross receipts (currently, less than $5 million).
The bill also increases the rate of the alternative simplified tax credit for such businesses.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Research and Development Tax Credit Expansion Act of 2019
Latest action (Dec 19, 2019): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Dec 19, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.