Investing in American Innovation Act of 2012
Latest action · Jul 12, 2012 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.
- IntroducedJul 12, 2012
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Investing in American Innovation Act of 2012 - Amends the Internal Revenue Code to: (1) extend through 2012 the tax credit for increasing research activities; (2) prohibit a reduction under any treaty of the United States of tax withholding for a tax deductible payment made between persons who are members of the same foreign controlled group of entities unless there would be a similar reduction for payments made directly to the foreign parent corporation of such entities; and (3) classify general aviation aircraft as seven-year property for purposes of the depreciation tax deduction (currently, expenses for aircraft can be deducted or expensed in the current taxable year). Defines "general aviation aircraft" as any airplane or helicopter not used in commercial or contract carrying of passengers or freight, but which primarily engages in the carrying of passengers.
Cosponsors 10
Members who signed on, in the order they did. All signed on Jul 12, 2012.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NJ | Bill Pascrell, Jr. | Original | Jul 12, 2012 |
| D-NY | Charles B. Rangel | Original | Jul 12, 2012 |
| D-OR | Earl Blumenauer | Original | Jul 12, 2012 |
| D-WA | Jim McDermott | Original | Jul 12, 2012 |
| D-GA | John Lewis | Original | Jul 12, 2012 |
| D-NY | Joseph Crowley | Original | Jul 12, 2012 |
| D-MA | Richard E. Neal | Original | Jul 12, 2012 |
| D-WI | Ron Kind | Original | Jul 12, 2012 |
| D-NV | Shelley Berkley | Original | Jul 12, 2012 |
| D-CA | Xavier Becerra | Original | Jul 12, 2012 |
Actions 2
Everything that happened, newest first.
- Jul 12, 2012Introduced in House
- Jul 12, 2012Referred to the House Committee on Ways and Means.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 64 | To amend the Internal Revenue Code of 1986 to prevent corporations from exploiting tax treaties to evade taxation of United States income. | Related bill | Jan 5, 2011 |
| HR 4199 | Jets for Vets Act of 2012 | Related bill | Mar 16, 2012 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Administrative law and regulatory procedures
- Aviation and airports
- Business investment and capital
- Corporate finance and management
- Department of the Treasury
- Employment taxes
- Foreign and international corporations
- Income tax credits
- Income tax deductions
- International law and treaties
- Motor vehicles
- Research and development
- Taxation
- Taxation of foreign income
Text 1
Each version as it was printed, newest first.
- Jul 12, 2012Introduced 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.