HR 5658 · 107th Congress 2001–2003, ended

To amend the Internal Revenue Code of 1986 to provide an alternative simplified credit for qualified research expenses.

Introduced Oct 16, 2002 Originated House Sponsor Dave Camp R-MI

Latest action · Oct 16, 2002 Referred to the House Committee on Ways and Means.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedOct 16, 2002
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

Amends the Internal Revenue Code to permit a taxpayer to substitute, for the first part of the formula for determining the credit for increasing research activities, the following, a credit equal to 12 percent of so much of the qualified research expenses for the taxable year as exceeds 50 percent of the average qualified research expenses for the three taxable years preceding the taxable year for which the credit is being determined. Provides a special rule where there are no qualified research expenses in any of the three preceding taxable years.

Cosponsors 1

Members who signed on, in the order they did. All signed on Oct 16, 2002.

Seat	Cosponsor		Signed on
D-MD	Benjamin L. Cardin	Original	Oct 16, 2002

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

Chamber	Committee	What it did
House	Ways and Means Committee	Referred Oct 16, 2002

Actions 2

Everything that happened, newest first.

Oct 16, 2002Introduced in House
Oct 16, 2002Referred to the House Committee on Ways and Means.

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Printed hearings 1

Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.

Number	Hearing	Committee	Held
S. Hrg. 107-325	DEPARTMENTS OF COMMERCE, JUSTICE, AND STATE, THE JUDICIARY, AND RELATED AGENCIES APPROPRIATIONS FOR FISCAL YEAR 2002480 pages	Appropriations Committee	Apr 26, 2001–Jun 28, 2001

Titles 1

Every title it has carried, official and short, at each stage.

Official Title as Introduced: To amend the Internal Revenue Code of 1986 to provide an alternative simplified credit for qualified research expenses.

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

Oct 16, 2002Introduced in House

Support LegiList

This page is free, carries no paywall, and is built and maintained by one person. If the record here is useful to you, a few dollars keeps it going.

$1 $5 $10

Processed by Stripe in a separate window. LegiList never sees card details.

Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.