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HR 2297 115th Congress House Taxation Accounting and auditing Advanced technology and technological innovations Business investment and capital Capital gains tax Income tax credits Income tax deductions Inflation and prices Research and development Small business Tax administration and collection, taxpayers

PARTNER Act

Introduced: May 2, 2017 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 2, 2017
Referred to the House Committee on Ways and Means.
May 2, 2017
Introduced in House
 Plain-English summary Congressional Research Service

Partnerships to Advance Revolutionary Technology and Novel Entrepreneurial Research Act or the PARTNER Act

This bill amends the Internal Revenue Code to exempt from the definition of "passive activity," for purposes of the passive loss tax rules, any qualified research activity carried on by a high technology research small business pass-thru entity.

The bill defines "high technology research small business pass-thru entity" as any domestic pass-thru entity if: (1) more than 75% of the entity's expenditures are paid or incurred in connection with qualified research that involves a process of experimentation conducted by the entity, or (2) more than 50% of the entity's expenditures constitute qualified research expenses. A high technology research entity is a small business if such entity has 250 or fewer full-time employees. The entity may not have aggregate gross assets in excess of $150 million at any time during the taxable year.

What's happening now May 2, 2017

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 2 Republican 1