S 2209
110th Congress
Senate
Taxation
Income tax
Research and development tax credit
Science, Technology, Communications
Research Credit Improvement Act of 2007
Introduced: October 19, 2007
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 19, 2007
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S13154-13155)
Oct 19, 2007
Sponsor introductory remarks on measure. (CR S13153-13154)
Oct 19, 2007
Introduced in Senate
Plain-English summary
Research Credit Improvement Act of 2007 - 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
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S13154-13155)
Committees of jurisdiction
1