H.R. 7527 · 116th Congress
MMEDS Act of 2020
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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.
R
González-ColónSponsor9 cosponsors · 4 D, 5 R
R
Bishop
PK
R
King
JS
D
Serrano
DS
D
Soto
DS
D
Shalala
BF
R
Fitzpatrick
MD
R
Diaz-Balart
MS
D
San Nicolas
ES
R
Stefanik5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Medical Manufacturing, Economic Development, and Sustainability Act of 2020 or the MMEDS Act of 2020
What it does: CRS summary · Introduced in House · Jul 9, 2020
Medical Manufacturing, Economic Development, and Sustainability Act of 2020 or the MMEDS Act of 2020
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: MMEDS Act of 2020
Also known as: Medical Manufacturing, Economic Development, and Sustainability Act of 2020
Latest action (Jul 9, 2020): Referred 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.
Policy area: Taxation · Origin: House · Introduced: Jul 9, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.