IGNITE American Innovation Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 28, 2021)
Innovation and Growth Now by Investing in Tomorrow's Enterprises Act or the IGNITE American Innovation Act
This bill allows certain C corporation taxpayers to elect an increased advance refund of net operating loss carryovers attributable to COVID-19 research expenditures in 2020 and 2021. The bill also allows such taxpayers an advance refund of certain other net operating loss carryovers arising during 2015 through 2021.
The bill allows an increased research tax credit for COVID-19 research expenditures paid or incurred on or after February 15, 2020, and before January 1, 2022.
What just happenedMay 28, 2021
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseMay 28, 2021
- May 28, 2021IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - May 28, 2021IntroReferralIntro-H
Introduced in House
- May 28, 2021IntroReferral1000
Introduced in House