US HB4549 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on September 27 2019 - 25% progression, died in committee
Action: 2019-09-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 27 2019 - 25% progression, died in committee
Action: 2019-09-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Eliminates the five-year amortization requirement for research and experimental expenditures scheduled to begin in 2022, thus allowing continued expensing of such expenditures in the taxable years in which they are incurred.
Title
AICA Act of 2019 American Innovation and Competitiveness Act of 2019
Sponsors
Rep. John Larson [D-CT] | Rep. Ron Estes [R-KS] | Rep. Mike Kelly [R-PA] | Rep. Jimmy Panetta [D-CA] |
Rep. Jason Smith [R-MO] | Rep. Gregory Pence [R-IN] | Rep. Pete Olson [R-TX] | Rep. Tom Reed [R-NY] |
Rep. Danny Davis [D-IL] | Rep. Linda Sanchez [D-CA] | Rep. Earl Blumenauer [D-OR] | Rep. Jackie Walorski [R-IN] |
Rep. Darin LaHood [R-IL] | Rep. Terri Sewell [D-AL] | Rep. Jody Arrington [R-TX] | Rep. Ron Kind [D-WI] |
Rep. Tim Ryan [D-OH] | Rep. John Curtis [R-UT] | Rep. George Holding [R-NC] | Rep. Suzan DelBene [D-WA] |
Rep. Harley Rouda [D-CA] | Rep. Ken Buck [R-CO] | Rep. Brian Fitzpatrick [R-PA] | Rep. Brendan Boyle [D-PA] |
Rep. Andy Biggs [R-AZ] | Rep. Thomas Suozzi [D-NY] | Rep. Carol Miller [R-WV] | Rep. Joseph Morelle [D-NY] |
Rep. Bennie Thompson [D-MS] | Rep. Brad Wenstrup [R-OH] | Rep. Bill Foster [D-IL] | Rep. Vicky Hartzler [R-MO] |
Rep. Kevin Hern [R-OK] | Rep. Bobby Rush [D-IL] | Rep. Rebecca Sherrill [D-NJ] | Rep. Suzanne Bonamici [D-OR] |
History
Date | Chamber | Action |
---|---|---|
2019-09-27 | House | Referred to the House Committee on Ways and Means. |
2019-09-27 | House | Introduced in House |
Same As/Similar To
SB4822 (Related) 2020-10-20 - Read twice and referred to the Committee on Finance.
Subjects
Business expenses
Credit and credit markets
Income tax deductions
Research and development
Tax administration and collection, taxpayers
Taxation
Credit and credit markets
Income tax deductions
Research and development
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/4549/all-info |
Text | https://www.congress.gov/116/bills/hr4549/BILLS-116hr4549ih.pdf |