US HB7766 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on July 23 2020 - 25% progression, died in committee
Action: 2020-07-23 - Referred to the Subcommittee on Select Revenue Measures.
Pending: House Subcommittee on Select Revenue Measures Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 23 2020 - 25% progression, died in committee
Action: 2020-07-23 - Referred to the Subcommittee on Select Revenue Measures.
Pending: House Subcommittee on Select Revenue Measures Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Increases from 20% to 40% the rate of the tax credit for increasing research activities. It also increases the rate of the alternative simplified research credit and the credit rate where there have been no research expenses for the preceding three years. The bill also increases the amount of research expenses for purposes of calculating the payroll tax credit allowed to certain small businesses.
Title
To amend the Internal Revenue Code of 1986 to increase the research tax credit and provide better access to the credit for business startups.
Sponsors
| Rep. Jackie Walorski [R-IN] | Rep. Jody Arrington [R-TX] | Rep. Kevin Hern [R-OK] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-07-23 | House | Referred to the Subcommittee on Select Revenue Measures. |
| 2020-07-23 | House | Referred to the House Committee on Ways and Means. |
| 2020-07-23 | House | Introduced in House |
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/7766/all-info |
| Text | https://www.congress.gov/116/bills/hr7766/BILLS-116hr7766ih.pdf |
