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; 5 are original cosponsors, there from 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 | |
| I-AZ | Kyrsten Sinema | Apr 13, 2015 | |
| R-ME | Bruce Poliquin | Apr 15, 2015 | |
| R-NC | David Rouzer | Apr 15, 2015 | |
| R-LA | Ralph Lee Abraham | Apr 15, 2015 | |
| R-PA | Ryan A. Costello | Apr 15, 2015 | |
| R-NC | Walter B. Jones | Apr 15, 2015 | |
| R-WV | Alexander X. Mooney | Apr 23, 2015 | |
| R-FL | Carlos Curbelo | Apr 23, 2015 | |
| R-MI | David A. Trott | Apr 23, 2015 | |
| R-WI | Glenn Grothman | Apr 23, 2015 | |
| R-CA | Stephen Knight | May 1, 2015 | |
| R-NJ | Thomas MacArthur | May 1, 2015 | |
| R-MN | Tom Emmer | May 1, 2015 | |
| R-MO | Ann Wagner | May 5, 2015 | |
| R-IL | Robert J. Dold | May 5, 2015 | |
| R-CA | David G. Valadao | May 12, 2015 | |
| R-CA | Devin Nunes | May 12, 2015 | |
| R-GA | Earl L. "Buddy" Carter | May 12, 2015 | |
| R-MO | Jason Smith | May 12, 2015 | |
| R-OH | Patrick J. Tiberi | May 12, 2015 |
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 Feb 11, 2015Markup Feb 12, 2015Reported May 14, 2015 |
Actions 21
Everything that happened, newest first.
- May 21, 2015Received in the Senate.
- May 20, 2015Rule H. Res. 273 passed House.
- May 20, 2015Considered under the provisions of rule H. Res. 273. (consideration: CR H3410-3419, H3490-3491)
- May 20, 2015The resolution provides for consideration of H.R. 2262 and H.R. 880. In addition, the resolution provides for consideration of motions to suspend the rules; and provides for proceedings during the period from May 22, 2015, through May 29, 2015.
- May 20, 2015ORDER OF PROCEDURE - Mr. Ryan (WI) asked unanimous consent that the question of adopting a motion to recommit on H.R. 880 may be subject to postponement as though under clause 8 of rule 20.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Extensions | Debate and remarks E770 | Carolyn B. Maloney D-NY | May 21, 2015 |
| House | Debate and remarks H3403–H3410, H3410–H3419Text printed H3403, H3410Amendments H3408Motions H3418Recorded votes H3408, H3409, H3490, H3491consideration (H. Res. 273), previous questionenactNeal motion to recommit (extend research credit without increasing the deficit or delaying further tax reform) | Alcee L. Hastings D-FL (amendment), Alexander X. Mooney R-WV, Bill Posey R-FL, Charles B. Rangel D-NY, Danny K. Davis D-IL, Earl Blumenauer D-OR, Erik Paulsen R-MN, George Holding R-NC, Kevin Brady R-TX, Kevin McCarthy R-CA, Lloyd Doggett D-TX, Mike Thompson D-CA, Nancy Pelosi D-CA, Paul D. Ryan R-WI, Richard E. Neal D-MA (motion), Rick W. Allen R-GA, Robert J. Dold R-IL, Rod Blum R-IA, Sander M. Levin D-MI, Steve Stivers R-OH, Xavier Becerra D-CA | May 20, 2015 |
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.
Committee report
Congressional Budget Office cost estimate
- Feb 19, 2015H.R. 880, American Research and Competitiveness Act of 2015As ordered reported by the House Committee on Ways and Means on February 12, 2015
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 161, no. 23, February 11, 2015, page H983.
CRS reports 3
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 3
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R43898 | Tax Provisions that Expired in 2014 (“Tax Extenders”) Archived | Report | Mar 30, 2016 |
| R43510 | Selected Recently Expired Business Tax Provisions (“Tax Extenders”) Archived | Report | Jan 7, 2016 |
| R42742 | Federal Tax Benefits for Manufacturing: Current Law and Arguments For and Against Archived | Report | Aug 3, 2015 |
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 | House amendment offered |
Related bills 1
Companion bills and other measures the record links to this one.
Titles 4
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to simplify and make permanent the research credit.
- Short Titles as Introduced
- American Research and Competitiveness Act of 2015
- Short Titles as Reported to House
- American Research and Competitiveness Act of 2015
- Short Titles as Passed House
- American Research and Competitiveness Act of 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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
