HR 5520
116th Congress
House
Taxation
Business investment and capital
Employment taxes
Income tax credits
Income tax rates
Inflation and prices
Research administration and funding
Research and development
Small business
Research and Development Tax Credit Expansion Act of 2019
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 19, 2019
Referred to the House Committee on Ways and Means.
Dec 19, 2019
Introduced in House
Plain-English summary
Research and Development Tax Credit Expansion Act of 2019
This bill modifies the refundable research tax credit for new and small businesses to (1) increase the limit on refundability to $500,000, with an adjustment for inflation; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross receipts (currently, less than $5 million).
The bill also increases the rate of the alternative simplified tax credit for such businesses.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1