Research and Development Tax Credit Act of 2009
Latest action · Jan 27, 2009 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.
- IntroducedJan 27, 2009
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Research and Development Tax Credit Act of 2009 - Amends the Internal Revenue Code to: (1) modify the tax credit for increasing research expenses to establish a standard 20% credit rate for research expenses exceeding 50% of average expenses over the preceding three year period; (2) establish a uniform 80% reimbursement rate for all contract research expenses (100% for basic research payments); (3) make such tax credit permanent; (4) allow a tax credit for equity investments in small business innovation companies; and (5) allow the issuance of tax exempt facility bonds for research park facilities used in connection with research and experimentation.
Directs the Secretary of the Treasury to: (1) study and report to Congress on taxpayer compliance with the substantiation requirements for claiming the tax credit for increasing research activities; and (2) issue regulations on the application of private activity bond rules to the funding of federal research agreements.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jan 27, 2009.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MA | James P. McGovern | Original | Jan 27, 2009 |
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 Jan 27, 2009 |
Actions 2
Everything that happened, newest first.
- Jan 27, 2009Introduced in House
- Jan 27, 2009Referred to the House Committee on Ways and Means.
Titles 2
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 incentives to improve America's research competitiveness, and for other purposes.
- Short Titles as Introduced
- Research and Development Tax Credit Act of 2009
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jan 27, 2009Introduced in House
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.
