American Research and Competitiveness Act of 2015
Latest action · May 21, 2015 Received in the Senate.
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.
- IntroducedFeb 11, 2015
- Passed HouseMay 20, 2015
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
American Research and Competitiveness Act of 2015
(Sec. 2) This bill revises and makes permanent after 2014 the research tax credit. The rate of such credit is modified to equal the sum of 20% of so much of the qualified research expenses for the taxable year as exceeds 50% of the average qualified research expenses for the three preceding taxable years, 20% of so much of the basic research payments for the taxable year as exceeds 50% of the average basic research payments for the three preceding taxable years, plus 20% of amounts paid by a business taxpayer to an energy research consortium for energy research. If a taxpayer has no qualified research expenses in any of the three preceding taxable years, the rate of the tax credit is reduced to 10% of current research expenses.
The bill also provides that in the case of an eligible small business (i.e., a corporation whose stock is not publicly traded, a partnership, or a sole proprietorship with annual gross receipts not exceeding $50 million in a three-year period), the research credit may offset alternative minimum tax liability.
(Sec. 3) The bill prohibits the entry of the budgetary effects of this Act on either PAYCO scorecard under the Statutory Pay-As-You-Go Act of 2010.
Recorded votes 2
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 260 | On Passage | Passed274–145 | May 20, 2015 |
| House 259 | On Motion to Recommit with Instructions | Failed181–240 | May 20, 2015 |
Cosponsors 32
Members who signed on, in the order they did. Signatures ran from Feb 11, 2015 to May 12, 2015, with 5 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-IL | Aaron Schock | Original | Feb 11, 2015 |
| D-CT | John B. Larson | Original | Feb 11, 2015 |
| R-TX | Michael T. McCaul | Original | Feb 11, 2015 |
| D-MA | Richard E. Neal | Original | Feb 11, 2015 |
| R-TX | Sam Johnson | Original | Feb 11, 2015 |
| R-TX | Kenny Marchant | Feb 13, 2015 | |
| R-IN | Todd Young | Feb 13, 2015 | |
| R-NY | Tom Reed | Feb 13, 2015 | |
| R-VA | Barbara Comstock | Feb 24, 2015 | |
| R-IA | Rod Blum | Feb 25, 2015 | |
| R-MN | Erik Paulsen | Mar 13, 2015 | |
| R-CA | Mimi Walters | Mar 19, 2015 | |
| D-AZ | Kyrsten Sinema | Apr 13, 2015 | |
| R-ME | Bruce Poliquin | Apr 15, 2015 | |
| R-NC | David Rouzer | Apr 15, 2015 |
Actions 22
Everything that happened, newest first.
- May 21, 2015Received in the Senate.
- May 20, 2015Considered under the provisions of rule H. Res. 273. (consideration: CR H3410-3419, H3490-3491)
- May 20, 2015DEBATE - The House proceeded with 10 minutes of debate on the Neal motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to extend the research and development tax credit for two years, through December 31, 2016.
- May 20, 2015DEBATE - The House proceeded with one hour of debate on H.R. 880.
- May 20, 2015Motion to reconsider laid on the table Agreed to without objection.
Amendments 1
Amendments offered to this bill.
| Amendment | Description | Offered by | Status |
|---|---|---|---|
| HAmdt 242 | Pursuant to the provisions of H.Res. 273 the amendment in the nature of a substitute, modified by the amendment printed in Part B of House Report 114-127 is considered as adopted. | Rules Committee | — |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HRES 273 | Providing for consideration of the bill (H.R. 2262) to facilitate a pro-growth environment for the developing commercial space industry by encouraging private sector investment and creating more stable and predictable regulatory conditions, and for other | Related bill | May 20, 2015 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 4
Each version as it was printed, newest first.
- May 21, 2015Received in Senate
- May 20, 2015Engrossed in House
- May 14, 2015Reported in House
- Feb 11, 2015Introduced 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.