HB5207: To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.
Plain-language summary
This bill would add a new medical research section to the existing research tax credit under the Internal Revenue Code. The research tax credit lets companies reduce their taxes when they spend money on qualified research activities. The new medical research component would expand what counts as qualified research to include more medical studies and development. This would let companies doing medical research claim additional tax credits. The bill was just introduced in Congress and has not yet been assigned to a .
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HB5207: To amend the Internal Revenue Code of 1986 to add a new medical research compon…