S 1617
100th Congress
Senate
Taxation
Accounting
Income tax
Research and development
Science and technology
Tax deductions
A bill to amend the Internal Revenue Code of 1986 with respect to the allocation of research and experimental expenditures.
Introduced: August 6, 1987
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 6, 1987
Read twice and referred to the Committee on Finance.
Aug 6, 1987
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to increase from 50 percent to 67 percent the amount of research and development expenditures that a company must allocate to income from sources within the United States. Establishes a special rule for the qualified research and experimental expenditures required by governmental entities.
Requires companies to report on a consolidated basis with respect to the expenditures associated with this source rule.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1