S 2484
100th Congress
Senate
Taxation
Business and commerce
Corporation taxes
Corporations and Stocks
Economics and Public Finance
Entrepreneurs
Gross national product
Income tax
Indexing (Economic policy)
Inflation
Research and development
Research and development tax credit
Science and technology
Small business
Tax credits
Research and Experimental Credit Extension and Reform Act of 1988
Introduced: June 8, 1988
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 12, 1988
Subcommittee on Taxation and Debt Management. Hearings held.
Jun 8, 1988
Read twice and referred to the Committee on Finance.
Jun 8, 1988
Introduced in Senate
Plain-English summary
Research and Experimental Credit Extension and Reform Act of 1988 - Amends the Internal Revenue Code to make permanent the income tax credit for qualified research expenditures by repealing the provisions that would terminate the credit for expenses incurred or paid after 1988.
Revises the method for computing: (1) base period research expenses, adding a factor reflecting the gross national product growth rate; and (2) the tax credit, adding an alternative computation component.
Applies the credit to in-house research expenses that the taxpayer pays or incurs for the principal purpose of using the research results in the active conduct of a future trade or business.
What's happening now
Subcommittee on Taxation and Debt Management. Hearings held.
Committees of jurisdiction
2
Cosponsors
1