MMEDS Act of 2020
Latest action · Aug 6, 2020 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.
- IntroducedAug 6, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Medical Manufacturing, Economic Development, and Sustainability Act of 2020 or the MMEDS Act of 2020
This bill provides incentives for relocating medical manufacturing facilities in the United States and for manufacturing medical products (i.e., drugs and devices) in economically distressed zones. Specifically, the bill allows a income tax credit for 40% of the sum of wages paid in a medical product manufacturing economically distressed zone, employee fringe benefit expenses, and depreciation and amortization allowances with respect to qualified medical product manufacturing facility property, and a credit for economically distressed zone products and services acquired by domestic medical product manufacturers..
The bill also directs the Department of Health and Human Services to study the extent to which the health of aging individuals and vulnerable populations have been disproportionately harmed by the COVID-19 (i.e., coronavirus disease 2019) pandemic and prior epidemics and pandemics.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Aug 6, 2020Introduced in Senate
- Aug 6, 2020Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 7527 | MMEDS Act of 2020 | Related bill | Jul 9, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Aging
- Business expenses
- Business investment and capital
- Cardiovascular and respiratory health
- Community life and organization
- Congressional oversight
- Drug safety, medical device, and laboratory regulation
- Economic development
- Emergency medical services and trauma care
- Government studies and investigations
- Health technology, devices, supplies
- Income tax credits
- Income tax deductions
- Industrial facilities
- Infectious and parasitic diseases
- Manufacturing
- Minority health
- Public-private cooperation
- Research administration and funding
- Research and development
- Taxation
- Unemployment
- Veterans' medical care
- Wages and earnings
Text 1
Each version as it was printed, newest first.
- Aug 6, 2020Introduced 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.