To amend the Internal Revenue Code of 1986 to make a portion of research credit refundable for certain small businesses engaging in specified medical research.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jul 9, 2020)
This bill allows certain small businesses whose gross receipts do not exceed $1 million a refundable portion of the tax credit for increasing research activities if such businesses are engaging in specified medical research. It defines specified medical research as any qualified research with respect to qualified countermeasures. A qualified countermeasure is a drug, biological product, or device that is determined to be a priority (1) to diagnose, mitigate, prevent, or treat harm from any biological agent (including organisms that cause an infectious disease) or toxin, chemical, radiological, or nuclear agent that may cause a public health emergency affecting national security; (2) to diagnose, mitigate, prevent, or treat harm from a condition that may result in adverse health consequences or death and may be caused by administering a drug, biological product, or device; or (3) is a product or technology intended to enhance the use or effect of a drug, biological product, or device.
What just happenedJul 9, 2020
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseJul 9, 2020
- Jul 9, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 9, 2020IntroReferralIntro-H
Introduced in House
- Jul 9, 2020IntroReferral1000
Introduced in House