HR 7504
117th Congress
House
Taxation
To amend the Internal Revenue Code of 1986 to make a portion of research credit refundable for certain small businesses engaging in specified medical research.
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 14, 2022
Referred to the House Committee on Ways and Means.
Apr 14, 2022
Introduced in House
Plain-English summary
This bill allows for the refundability of a portion of the tax credit for increasing research activities for small businesses (gross receipts not exceeding $1 million) engaged in specified medical research. Under the Public Health Service Act, specified medical research means research with respect to qualified countermeasures (i.e., a drug, biological product, or device for preventing harm from any biological agent or from a condition that may result in adverse health consequences or death).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1