US Congress House Bill 717 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 27 2009 - 25% progression, died in committee
Action: 2009-01-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Research and Development Tax Credit Act of 2009 - Amends the Internal Revenue Code to: (1) modify the tax credit for increasing research expenses to establish a standard 20% credit rate for research expenses exceeding 50% of average expenses over the preceding three year period; (2) establish a uniform 80% reimbursement rate for all contract research expenses (100% for basic research payments); (3) make such tax credit permanent; (4) allow a tax credit for equity investments in small business innovation companies; and (5) allow the issuance of tax exempt facility bonds for research park facilities used in connection with research and experimentation.Directs the Secretary of the Treasury to: (1) study and report to Congress on taxpayer compliance with the substantiation requirements for claiming the tax credit for increasing research activities; and (2) issue regulations on the application of private activity bond rules to the funding of federal research agreements.

Research and Development Tax Credit Act of 2009

Rep. Eddie Johnson [D-TX]

Rep. James McGovern [D-MA]

Date	Chamber	Action
2009-01-27		Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/717/all-info
Text	https://www.congress.gov/111/bills/hr717/BILLS-111hr717ih.pdf