H.R. 7410 · 117th Congress
American Made Medicine Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
WenstrupSponsor4 cosponsors · 4 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill allows employers tax credits for domestic medical and drug manufacturing expenses and for advanced medical manufacturing equipment. It also provides a tax credit for a percentage of the basis of qualifying medical manufacturing EPA compliance property placed in service before January 1, 2029, or during calendar year 2030.
What it does: CRS summary · Introduced in House · Apr 5, 2022
American Made Medicine Act
This bill allows employers tax credits for domestic medical and drug manufacturing expenses and for advanced medical manufacturing equipment. It also provides a tax credit for a percentage of the basis of qualifying medical manufacturing EPA compliance property placed in service before January 1, 2029, or during calendar year 2030.
The bill defines qualifying medical manufacturing EPA compliance property as depreciable property used by a taxpayer in the trade or business of manufacturing a drug, device, biological product, or active pharmaceutical ingredient or covered countermeasure (e.g., a qualified pandemic or epidemic product, security countermeasure, or respiratory protective device). The property must meet emissions limits under the Clean Air Act or wastewater standards under the Clean Water Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: American Made Medicine Act
Latest action (Apr 5, 2022): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Apr 5, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.