Bill117th CongressFiled Apr 14, 2022Taxation
H.R. 7505
To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.
Bill journey · stage 2 of 5
Under committee review
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Became LawLaw
What it doesSummary introduced in house (Apr 14, 2022)
This bill expands the tax credit for increasing research activities to add a new credit amount equal to 14% of specified medical research expenditures. The bill defines specified medical research expenditures as amounts paid or incurred for research with respect to any qualified countermeasure (i.e., a drug, biological product, or device determined to be a priority in protecting against harm from a biological agent or adverse health condition).
What just happenedApr 14, 2022
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Buchanan, Vern [R-FL-16](R-FL)Sponsor
1 cosponsor1 R
1cosponsors1committees3actions
- Introduced in HouseApr 14, 2022
- Apr 14, 2022IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Apr 14, 2022IntroReferralIntro-H
Introduced in House
- Apr 14, 2022IntroReferral1000
Introduced in House