Research and Development Tax Credit Expansion Act of 2019
Latest action · Dec 19, 2019 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.
- IntroducedDec 19, 2019
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Research and Development Tax Credit Expansion Act of 2019
This bill modifies the refundable research tax credit for new and small businesses to (1) increase the limit on refundability to $500,000, with an adjustment for inflation; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross receipts (currently, less than $5 million).
The bill also increases the rate of the alternative simplified tax credit for such businesses.
Cosponsors 1
Members who signed on, in the order they did. All signed on Mar 12, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-IN | James R. Baird | Mar 12, 2020 |
Actions 2
Everything that happened, newest first.
- Dec 19, 2019Introduced in House
- Dec 19, 2019Referred to the House Committee on Ways and Means.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2207 | Research and Development Tax Credit Expansion Act of 2019 | Identical bill | Jul 23, 2019 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Dec 19, 2019Introduced 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.