Skip to main content
S 41 110th Congress Senate

Research Competitiveness Act of 2007

Official title: A bill to amend the Internal Revenue Code of 1986 to provide incentives to improve America's research competitiveness, and for other purposes.

Introduced: April 21, 2008 See on congress.gov
Taxation Administrative procedureBondsCommerceCongress
More subjectsShow fewer subjects
Congressional reporting requirementsDepartment of the TreasuryEducationFinance and Financial SectorGovernment Operations and PoliticsGovernment paperworkGovernmental investigationsHigher educationIncome taxIntellectual propertyInvestment tax creditLawPatentsResearch and developmentResearch and development tax credit
Sign in to write a letter Sign in to watch
This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 4, 2007
Read twice and referred to the Committee on Finance.
Jan 4, 2007
Sponsor introductory remarks on measure. (CR S70-72)
Jan 4, 2007
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action January 4, 2007

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Research Competitiveness Act of 2007 - Amends the Internal Revenue Code to: (1) modify the tax credit for increasing research expenses to establish a standard 20% credit rate for research expenses exceeding 50% of average expenses over the preceding three year period; (2) establish a uniform 80% reimbursement rate for all contract research expenses (100% for basic research payments); (3) make such tax credit permanent; (4) allow a tax credit for equity investments in small business innovation companies; and (5) allow the issuance of tax exempt facility bonds for research park facilities used in connection with research and experimentation.

Directs the Secretary of the Treasury to: (1) study and report to Congress on taxpayer compliance with the substantiation requirements for claiming the tax credit for increasing research activities; and (2) issue regulations on the application of private activity bond rules to the funding of federal research agreements.

 Related & companion bills 4
  • HR 1712 Related bill Research and Development Tax Credit Act of 2007
  • HR 5681 Related bill Innovation Tax Credit Act of 2008
  • S 2209 Related bill Research Credit Improvement Act of 2007
  • S 2884 Related bill Research and Development Tax Credit Improvement Act of 2008
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Wyden, Ron
Oregon · Apr 21, 2008
Cite this page click to expand
APA
U.S. Congress. (2026). S. 41: Research Competitiveness Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-S-41/
MLA
"S. 41: Research Competitiveness Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-41/.
Bluebook (legal)
S. 41, 110th Cong. (2026), https://openamerica.io/bill/110-S-41/.
Markdown link
[S. 41: Research Competitiveness Act of 2007](https://openamerica.io/bill/110-S-41/)
Report a problem