HR 1536
114th Congress
House
Taxation
Business expenses
Employment taxes
Income tax credits
Research and development
Small business
Innovation, Research, and Manufacturing Act
Introduced: March 23, 2015
Introduced by:
Brownley, Julia
Democratic
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 23, 2015
Referred to the House Committee on Ways and Means.
Mar 23, 2015
Introduced in House
Plain-English summary
Innovation, Research, and Manufacturing Act
Amends the Internal Revenue Code, with respect to the tax credit for increasing research activities, to: (1) increase such credit (from the sum of 20% of the excess of qualified research expenses for the taxable year over the base amount, 20% of the basic research payments, and 20% of the amounts paid by the taxpayer in carrying on any trade or business during the taxable year to an energy research consortium for energy research to the sum of 30% of each of those); (2) make such credit permanent; and (3) allow such credit to offset the employment taxes of an eligible small employer, as defined by the Small Business Act.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1