US HB7556 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on July 9 2020 - 25% progression, died in committee
Action: 2020-07-09 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 9 2020 - 25% progression, died in committee
Action: 2020-07-09 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allows certain small businesses whose gross receipts do not exceed $1 million a refundable portion of the tax credit for increasing research activities if such businesses are engaging in specified medical research. It defines specified medical research as any qualified research with respect to qualified countermeasures. A qualified countermeasure is a drug, biological product, or device that is determined to be a priority (1) to diagnose, mitigate, prevent, or treat harm from any biological agent (including organisms that cause an infectious disease) or toxin, chemical, radiological, or nuclear agent that may cause a public health emergency affecting national security; (2) to diagnose, mitigate, prevent, or treat harm from a condition that may result in adverse health consequences or death and may be caused by administering a drug, biological product, or device; or (3) is a product or technology intended to enhance the use or effect of a drug, biological product, or device.
Title
To amend the Internal Revenue Code of 1986 to make a portion of research credit refundable for certain small businesses engaging in specified medical research.
Sponsors
Rep. Devin Nunes [R-CA] |
History
Date | Chamber | Action |
---|---|---|
2020-07-09 | House | Referred to the House Committee on Ways and Means. |
2020-07-09 | House | Introduced in House |
Same As/Similar To
HB14 (Related) 2020-11-02 - Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Subjects
Chemical and biological weapons
Drug therapy
Emergency medical services and trauma care
Hazardous wastes and toxic substances
Health technology, devices, supplies
Income tax credits
Infectious and parasitic diseases
Medical research
Medical tests and diagnostic methods
Nuclear weapons
Research and development
Small business
Taxation
Drug therapy
Emergency medical services and trauma care
Hazardous wastes and toxic substances
Health technology, devices, supplies
Income tax credits
Infectious and parasitic diseases
Medical research
Medical tests and diagnostic methods
Nuclear weapons
Research and development
Small business
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/7556/all-info |
Text | https://www.congress.gov/116/bills/hr7556/BILLS-116hr7556ih.pdf |