Infectious Disease Therapies Research and Innovation Act of 2022

This bill exempts from the definition of passive activity, for purposes of the passive loss tax rules, any qualified medical research activity of a specified medical research small business pass-thru entity.

The bill defines specified medical research small business pass-thru entity as any domestic pass-thru entity if more than 80% of such entity's expenditures on research are paid or incurred in connection with qualified medical research activities and the gross receipts of such entity for the taxable year are less than $1 million.