Bill118th CongressFiled Aug 15, 2023Taxation
H.R. 5207
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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CommitteeComm.
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Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Aug 15, 2023)
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 happenedAug 15, 2023
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Buchanan, Vern [R-FL-16](R-FL)Sponsor
2 cosponsors2 R
2cosponsors1committees3actions
- Introduced in HouseAug 15, 2023
- Aug 15, 2023IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Aug 15, 2023IntroReferralIntro-H
Introduced in House
- Aug 15, 2023IntroReferral1000
Introduced in House