Research and Development Tax Credit Expansion Act of 2019
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jul 23, 2019)
Research and Development Tax Credit Expansion Act of 2019
This bill modifies the refundable research tax credit for new and small businesses to (1) increase the limit on refundability to $500,000, with an adjustment for inflation; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross receipts (currently, less than $5 million).
The bill also increases the rate of the alternative simplified tax credit for such businesses.
What just happenedJul 23, 2019
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateJul 23, 2019
- Jul 23, 2019IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Jul 23, 2019IntroReferral10000
Introduced in Senate