HR 5681
110th Congress
House
Taxation
Income tax
Research and development tax credit
Science, Technology, Communications
Innovation Tax Credit Act of 2008
Introduced: April 2, 2008
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 2, 2008
Referred to the House Committee on Ways and Means.
Apr 2, 2008
Introduced in House
Plain-English summary
Innovation Tax Credit Act of 2008 - Amends the Internal Revenue Code to revise the tax credit for increasing research activities by: (1) phasing in increases in the alternative simplified tax credit rate through 2009; (2) establishing a 20% alternative simplified tax credit rate in 2010 in lieu of the standard research tax credit rate; (3) increasing the amount of basic and contract research expenses eligible for such tax credit; and (4) making such tax credit permanent.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1