A bill to amend the Internal Revenue Code of 1986 and the Patient Protection and Affordable Care Act to extend, expand, and improve the qualifying therapeutic discovery project program.
Latest action · May 23, 2012 Read twice and referred to the Committee on Finance.
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.
- IntroducedMay 23, 2012
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code and the Patient Protection and Affordable Care Act, with respect to the tax credit for the qualifying therapeutic discovery project program, to: (1) extend such credit and credit allocations through 2012; (2) increase the total amount of credits allocable to $2 billion for the 4-year period beginning with 2009; (3) extend from 30 to 90 days the period for review of applications for certification of investments under such program and the time for making payments to applicants; and (4) modify the criteria used by the Secretary of the Treasury for selecting program projects to require the selection of projects that show significant potential (currently, reasonable potential).
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- May 23, 2012Introduced in Senate
- May 23, 2012Read twice and referred to the Committee on Finance.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- May 23, 2012Introduced in Senate
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.