H.R. 7505 · 117th Congress
To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for…
Full title
To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.
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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
BuchananSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill expands the tax credit for increasing research activities to add a new credit amount equal to 14% of specified medical research expenditures.
What it does: CRS summary · Introduced in House · Apr 14, 2022
This bill expands the tax credit for increasing research activities to add a new credit amount equal to 14% of specified medical research expenditures. The bill defines specified medical research expenditures as amounts paid or incurred for research with respect to any qualified countermeasure (i.e., a drug, biological product, or device determined to be a priority in protecting against harm from a biological agent or adverse health condition).
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 add a new medical research component to the credit for increasing research activities.
Latest action (Apr 14, 2022): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Apr 14, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.