HR 3623
117th Congress
House
Taxation
Appropriations
Business expenses
Cardiovascular and respiratory health
Corporate finance and management
Disability assistance
Drug therapy
Emergency medical services and trauma care
Government trust funds
Health promotion and preventive care
Health technology, devices, supplies
Income tax credits
Income tax deductions
Infectious and parasitic diseases
Medical research
Medical tests and diagnostic methods
Medicare
Prescription drugs
Research and development
Social security and elderly assistance
IGNITE American Innovation Act
Introduced: May 28, 2021
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 28, 2021
Referred to the House Committee on Ways and Means.
May 28, 2021
Introduced in House
Plain-English summary
Innovation and Growth Now by Investing in Tomorrow's Enterprises Act or the IGNITE American Innovation Act
This bill allows certain C corporation taxpayers to elect an increased advance refund of net operating loss carryovers attributable to COVID-19 research expenditures in 2020 and 2021. The bill also allows such taxpayers an advance refund of certain other net operating loss carryovers arising during 2015 through 2021.
The bill allows an increased research tax credit for COVID-19 research expenditures paid or incurred on or after February 15, 2020, and before January 1, 2022.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1