H.R. 7556 · 116th Congress
To amend the Internal Revenue Code of 1986 to make a portion of research credit refundable for certain small…
Full title
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.
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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
NunesSponsorNo cosponsors.
This bill allows certain small businesses whose gross receipts do not exceed $1 million a refundable portion of the tax credit for increasing research activities if such businesses are engaging in specified medical research. It defines specified medical research as any qualified research with respect to qualified countermeasures.
What it does: CRS summary · Introduced in House · Jul 9, 2020
This bill allows certain small businesses whose gross receipts do not exceed $1 million a refundable portion of the tax credit for increasing research activities if such businesses are engaging in specified medical research. It defines specified medical research as any qualified research with respect to qualified countermeasures. A qualified countermeasure is a drug, biological product, or device that is determined to be a priority (1) to diagnose, mitigate, prevent, or treat harm from any biological agent (including organisms that cause an infectious disease) or toxin, chemical, radiological, or nuclear agent that may cause a public health emergency affecting national security; (2) to diagnose, mitigate, prevent, or treat harm from a condition that may result in adverse health consequences or death and may be caused by administering a drug, biological product, or device; or (3) is a product or technology intended to enhance the use or effect of a drug, biological product, or device.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: 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.
Latest action (Jul 9, 2020): Referred to the House Committee on Ways and Means.
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.