S. 2823 · 118th Congress
Securing America’s R&D Advantage Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RubioSponsorNo cosponsors.
This bill revises and expands the deductibility of research and experimental expenditures to allow immediate expensing of such expenditures. It also allows the amortization over a period of at least 60 months of certain other types of research and experimental expenditures not treated as expenses.
What it does: CRS summary · Introduced in Senate · Sep 14, 2023
Securing America's R&D Advantage Act
This bill revises and expands the deductibility of research and experimental expenditures to allow immediate expensing of such expenditures. It also allows the amortization over a period of at least 60 months of certain other types of research and experimental expenditures not treated as expenses. The bill prohibits the expensing of such research and experimentation expenditures if they are conducted in North Korea, China, Russia, or Iran.
The bill increases the maximum amount eligible for the tax credit for new and small businesses and increases to 20% the rate of the credit for business startups.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Securing America’s R&D Advantage Act
Latest action (Sep 14, 2023): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Sep 14, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.