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HR 7527 116th Congress House Taxation Aging Business expenses Business investment and capital Cardiovascular and respiratory health Community life and organization Congressional oversight Drug safety, medical device, and laboratory regulation Economic development Emergency medical services and trauma care Government studies and investigations Health technology, devices, supplies Housing and community development funding Immunology and vaccination Income tax credits Income tax deductions Industrial facilities Infectious and parasitic diseases Manufacturing Medical research

MMEDS Act of 2020

Introduced: July 9, 2020 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 9, 2020
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jul 9, 2020
Referred to the Subcommittee on Health.
Jul 9, 2020
Introduced in House
 Plain-English summary Congressional Research Service

Medical Manufacturing, Economic Development, and Sustainability Act of 2020 or the MMEDS Act of 2020

This bill provides incentives for relocating medical manufacturing facilities in the United States and for manufacturing medical products (i.e., drugs and devices) in economically distressed zones. Specifically, the bill allows a income tax credit for 40% of the sum of wages paid in a medical manufacturing economically distressed zone, employee fringe benefit expenses, and depreciation and amortization allowances with respect to qualified medical manufacturing facility property, and a credit for economically distressed zone products and services acquired by domestic medical manufacturers. The bill increases the credit rate for minority businesses.

What's happening now July 9, 2020

Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Committees of jurisdiction 3
 Cosponsors 4
All 4 Democratic 1 Republican 3