To amend the Internal Revenue Code of 1986 to make a portion of research credit refundable for certain small businesses engaging in specified medical research.
Latest action · Jul 9, 2020 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 9, 2020
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
This bill allows certain small businesses whose gross receipts do not exceed $1 million a refundable portion of the tax credit for increasing research activities if such businesses are engaging in specified medical research. It defines specified medical research as any qualified research with respect to qualified countermeasures. A qualified countermeasure is a drug, biological product, or device that is determined to be a priority (1) to diagnose, mitigate, prevent, or treat harm from any biological agent (including organisms that cause an infectious disease) or toxin, chemical, radiological, or nuclear agent that may cause a public health emergency affecting national security; (2) to diagnose, mitigate, prevent, or treat harm from a condition that may result in adverse health consequences or death and may be caused by administering a drug, biological product, or device; or (3) is a product or technology intended to enhance the use or effect of a drug, biological product, or device.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Jul 9, 2020Introduced in House
- Jul 9, 2020Referred 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 |
|---|---|---|---|
| HR 14 | Commitment to Defeat the Virus and Keep America Healthy Act | Related bill | Nov 2, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Chemical and biological weapons
- Drug therapy
- Emergency medical services and trauma care
- Hazardous wastes and toxic substances
- Health technology, devices, supplies
- Income tax credits
- Infectious and parasitic diseases
- Medical research
- Medical tests and diagnostic methods
- Nuclear weapons
- Research and development
- Small business
- Taxation
Text 1
Each version as it was printed, newest first.
- Jul 9, 2020Introduced 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.