US Congress House Bill 4855 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on June 12 2014 - 25% progression, died in committee
Action: 2014-06-12 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Amends the Internal Revenue Code to exempt from the definition of "passive activity," for purposes of the passive loss tax rules, any qualified research activity carried on by a high technology research small business pass-thru entity. Defines "high technology research small business pass-thru entity" as any domestic pass-thru entity if: (1) more than 75% of the entity's expenditures are paid or incurred in connection with qualified research, or (2) more than 50% of the entity's expenditures constitute qualified research expenses. Designates a high technology research entity as a small business if such entity has 250 or fewer full-time employees and does not have aggregate gross assets in excess of $150 million.

To amend the Internal Revenue Code of 1986 to provide an exception from the passive loss rules for investments in high technology research small business pass-thru entities.

Rep. Jim Gerlach [R-PA]	Rep. Mike Kelly [R-PA]	Rep. Ron Kind [D-WI]	Rep. John Larson [D-CT]
Rep. Richard Neal [D-MA]	Rep. Aaron Schock [R-IL]

Date	Chamber	Action
2014-06-12	House	Referred to the House Committee on Ways and Means.

SB1658 (Related) 2013-11-06 - Read twice and referred to the Committee on Finance.
SB2139 (Related) 2014-03-13 - Read twice and referred to the Committee on Finance.
SB2715 (Related) 2014-07-31 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/4855/all-info
Text	https://www.congress.gov/113/bills/hr4855/BILLS-113hr4855ih.pdf