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Biotechnology Future Investment Expansion Act of 2003

Introduced: July 25, 2003 See on congress.gov
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 25, 2003
Referred to the House Committee on Ways and Means.
Jul 25, 2003
Introduced in House
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 Plain-English summary Congressional Research Service

Biotechnology Future Investment Expansion Act of 2003 - Amends the Internal Revenue Code to provide that in the case of a biomedical research corporation, any owner shift involving a five-percent shareholder which occurs as the result of a qualified investment during the testing period shall be treated as occurring before the testing period. (Thus not counting toward net operating loss and tax credit carryover limitations.)

Defines: (1) "biomedical research corporation" as a domestic corporation not in bankruptcy which has a drug or biologic in certain clinical trials; and (2) "qualified investment" as a stock acquisition in a biomedical research corporation acquired in cash at its original issue.

Requires a biomedical research corporation to meet a five-year expenditure test with respect to any qualified investment.

What's happening now July 25, 2003

Referred to the House Committee on Ways and Means.

 Related & companion bills 1
  • S 1773 Related bill Biotechnology Future Investment Expansion Act of 2003
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
R
Sessions, Pete
Texas · May 5, 2004
 D
Van Hollen, Chris
Maryland · May 5, 2004
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2968: Biotechnology Future Investment Expansion Act of 2003. 108th Congress. Open America. https://openamerica.io/bill/108-HR-2968/
MLA
"H.R. 2968: Biotechnology Future Investment Expansion Act of 2003." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-HR-2968/.
Bluebook (legal)
H.R. 2968, 108th Cong. (2026), https://openamerica.io/bill/108-HR-2968/.
Markdown link
[H.R. 2968: Biotechnology Future Investment Expansion Act of 2003](https://openamerica.io/bill/108-HR-2968/)
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