US Congress Senate Bill 1920 (Prior Session Legislation)

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Sponsorship: Bipartisan Bill
Status: Introduced on January 14 2014 - 25% progression, died in committee
Action: 2014-01-14 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Innovators Job Creation Act - Amends the Internal Revenue Code to: (1) make permanent the tax credit for increasing research activities; (2) allow an offset of such credit against liability for the alternative minimum tax (AMT); (3) make permanent the five-year carryback of research tax credit amounts of certain small businesses; and (4) allow a qualified small business, other than a tax-exempt organization, to use a portion, up to $250,000 in a taxable year, of its tax credit for increasing research expenditures as an offset against its employment tax liability. Defines "qualified small business" as a corporation, partnership, or S corporation if the gross receipts of such entity for the taxable year are less than $5 million and such entity did not have gross receipts for any period preceding the 5-year period ending with such taxable year.

Innovators Job Creation Act

Sen. Pat Roberts [R-KS]

Sen. Christopher Coons [D-DE]

Sen. Michael Enzi [R-WY]

Sen. Charles Schumer [D-NY]

Date	Chamber	Action
2014-01-14	Senate	Read twice and referred to the Committee on Finance.

HB714 (Related) 2013-04-08 - Referred to the Subcommittee on Immigration And Border Security.
SB193 (Related) 2013-01-31 - Read twice and referred to the Committee on Finance.
SB310 (Related) 2013-02-13 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/1920/all-info
Text	https://www.congress.gov/113/bills/s1920/BILLS-113s1920is.pdf