H.R. 7505 · 117th Congress · House

To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.

Active· Referred to the House Committee on Ways and Means.
Introduced
Apr 14, 22
Passed House
Pending
Passed Senate
Pending
Sent to President
Pending
Signed into Law
Pending

Executive Summary

This bill expands the tax credit for increasing research activities to add a new credit amount equal to 14% of specified medical research expenditures. The bill defines specified medical research expenditures as amounts paid or incurred for research with respect to any qualified countermeasure (i.e., a drug, biological product, or device determined to be a priority in protecting against harm from a biological agent or adverse health condition).

Action Timeline

3
  1. APR 14, 2022IntroReferral

    Introduced in House

  2. APR 14, 2022IntroReferral

    Introduced in House

  3. APR 14, 2022IntroReferral

    Referred to the House Committee on Ways and Means.

Committees

1

Ways and Means Committee

hswm00

Referred: Apr 14, 2022

Active