US HB2632 | 2011-2012 | 112th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on July 25 2011 - 25% progression, died in committee
Action: 2011-07-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 25 2011 - 25% progression, died in committee
Action: 2011-07-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Life Sciences Jobs and Investment Act of 2011 - Amends the Internal Revenue Code to allow: (1) an increased research tax credit for qualified initial life sciences research expenses; and (2) certain corporations a tax deduction for dividends received which are reinvested solely in the United States to hire scientists and researchers engaged in life science research, fund life science research at research consortia, eligible small businesses, universities, and federal laboratories, or build or lease new facilities to be used primarily for qualified life sciences research. Terminates such tax incentives after 2016. Defines "qualified initial life sciences research expenses" as amounts, up to $150 million, attributable to the study of biology, biochemistry, biophysics, bioengineering, microbiology, genetics, or physiology, but excluding sociology or psychology. Directs the Commissioner of Internal Revenue to take necessary steps to ensure full compliance with the provisions of this Act and to report to Congress on the status of such compliance and related enforcement.
Title
Life Sciences Jobs and Investment Act of 2011
Sponsors
| Rep. Devin Nunes [R-CA] | Rep. Jason Altmire [D-PA] | Rep. Robert Brady [D-PA] | Rep. Charles Dent [R-PA] |
| Rep. Chaka Fattah [D-PA] | Rep. Michael Fitzpatrick [R-PA] | Rep. Jim Gerlach [R-PA] | Rep. Patrick Meehan [R-PA] |
| Rep. Bill Pascrell [D-NJ] | Rep. Allyson Schwartz [D-PA] | Rep. Albio Sires [D-NJ] | Rep. Lamar Smith [R-TX] |
History
| Date | Chamber | Action |
|---|---|---|
| 2011-07-25 | House | Referred to the House Committee on Ways and Means. |
Same As/Similar To
SB1410 (Same As) 2011-07-25 - Read twice and referred to the Committee on Finance.
Subjects
Business investment and capital
Income tax credits
Income tax deductions
Interest, dividends, interest rates
Medical research
Research administration and funding
Small business
Taxation
Taxation of foreign income
Income tax credits
Income tax deductions
Interest, dividends, interest rates
Medical research
Research administration and funding
Small business
Taxation
Taxation of foreign income
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/112th-congress/house-bill/2632/all-info |
| Text | https://www.congress.gov/112/bills/hr2632/BILLS-112hr2632ih.pdf |
