H.R. 7766 · 116th Congress
To amend the Internal Revenue Code of 1986 to increase the research tax credit and provide better access to…
Full title
To amend the Internal Revenue Code of 1986 to increase the research tax credit and provide better access to the credit for business startups.
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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
WalorskiSponsor2 cosponsors · 2 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill increases from 20% to 40% the rate of the tax credit for increasing research activities. It also increases the rate of the alternative simplified research credit and the credit rate where there have been no research expenses for the preceding three years.
What it does: CRS summary · Introduced in House · Jul 23, 2020
This bill increases from 20% to 40% the rate of the tax credit for increasing research activities. It also increases the rate of the alternative simplified research credit and the credit rate where there have been no research expenses for the preceding three years.
The bill also increases the amount of research expenses for purposes of calculating the payroll tax credit allowed to certain small businesses.
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 increase the research tax credit and provide better access to the credit for business startups.
Latest action (Jul 23, 2020): Referred to the Subcommittee on Select Revenue Measures.
Policy area: Taxation · Origin: House · Introduced: Jul 23, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.