HR 1304
117th Congress
House
Taxation
Business expenses
Income tax deductions
Research and development
American Innovation and R&D Competitiveness Act of 2021
Introduced: February 24, 2021
Introduced by:
Larson, John B.
Democratic
· Connecticut
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 24, 2021
Referred to the House Committee on Ways and Means.
Feb 24, 2021
Introduced in House
Plain-English summary
American Innovation and R&D Competitiveness Act of 2021
This bill eliminates the five-year amortization requirement for research and experimental expenditures scheduled to begin in 2022, thus allowing continued expensing of such expenditures in the taxable years in which they are incurred.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1