To amend the Internal Revenue Code of 1986 to provide an exception from the passive loss rules for investments in high technology research small business pass-thru entities.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 12, 2014)
Amends the Internal Revenue Code to exempt from the definition of "passive activity," for purposes of the passive loss tax rules, any qualified research activity carried on by a high technology research small business pass-thru entity.
Defines "high technology research small business pass-thru entity" as any domestic pass-thru entity if: (1) more than 75% of the entity's expenditures are paid or incurred in connection with qualified research, or (2) more than 50% of the entity's expenditures constitute qualified research expenses. Designates a high technology research entity as a small business if such entity has 250 or fewer full-time employees and does not have aggregate gross assets in excess of $150 million.
What just happenedJun 12, 2014
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseJun 12, 2014
- Jun 12, 2014IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jun 12, 2014IntroReferralIntro-H
Introduced in House
- Jun 12, 2014IntroReferral1000
Introduced in House