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HR 7537 116th Congress House Taxation Accounting and auditing Advanced technology and technological innovations Business investment and capital Income tax credits Infectious and parasitic diseases Medical research Small business Tax administration and collection, taxpayers

Infectious Disease Therapies Research and Innovation Act of 2020

Introduced: July 9, 2020 Introduced by: Kelly, Mike Republican · Pennsylvania 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 House Committee on Ways and Means.
Jul 9, 2020
Referred to the Subcommittee on Health.
Jul 9, 2020
Introduced in House
 Plain-English summary Congressional Research Service

Infectious Disease Therapies Research and Innovation Act of 2020

This bill exempts from the definition of passive activity, for purposes of the passive loss tax rules, any qualified medical research activity of a specified medical research small business pass-thru entity.

The bill defines specified medical research small business pass-thru entity as any domestic pass-thru entity if more than 80% of such entity's expenditures on research are paid or incurred in connection with qualified medical research activities and the gross receipts of such entity for the taxable year are less than $1 million.

What's happening now July 9, 2020

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 2