US SB4467 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on August 6 2020 - 25% progression, died in committee
Action: 2020-08-06 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on August 6 2020 - 25% progression, died in committee
Action: 2020-08-06 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Provides incentives for relocating medical manufacturing facilities in the United States and for manufacturing medical products (i.e., drugs and devices) in economically distressed zones. Specifically, the bill allows a income tax credit for 40% of the sum of wages paid in a medical product manufacturing economically distressed zone, employee fringe benefit expenses, and depreciation and amortization allowances with respect to qualified medical product manufacturing facility property, and a credit for economically distressed zone products and services acquired by domestic medical product manufacturers.. The bill also directs the Department of Health and Human Services to study the extent to which the health of aging individuals and vulnerable populations have been disproportionately harmed by the COVID-19 (i.e., coronavirus disease 2019) pandemic and prior epidemics and pandemics.
Title
MMEDS Act of 2020 Medical Manufacturing, Economic Development, and Sustainability Act of 2020
Sponsors
Sen. Marco Rubio [R-FL] |
History
Date | Chamber | Action |
---|---|---|
2020-08-06 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB7527 (Related) 2020-07-09 - Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Subjects
Aging
Business expenses
Business investment and capital
Cardiovascular and respiratory health
Community life and organization
Congressional oversight
Drug safety, medical device, and laboratory regulation
Economic development
Emergency medical services and trauma care
Government studies and investigations
Health technology, devices, supplies
Income tax credits
Income tax deductions
Industrial facilities
Infectious and parasitic diseases
Manufacturing
Minority health
Public-private cooperation
Research administration and funding
Research and development
Taxation
Unemployment
Veterans' medical care
Wages and earnings
Business expenses
Business investment and capital
Cardiovascular and respiratory health
Community life and organization
Congressional oversight
Drug safety, medical device, and laboratory regulation
Economic development
Emergency medical services and trauma care
Government studies and investigations
Health technology, devices, supplies
Income tax credits
Income tax deductions
Industrial facilities
Infectious and parasitic diseases
Manufacturing
Minority health
Public-private cooperation
Research administration and funding
Research and development
Taxation
Unemployment
Veterans' medical care
Wages and earnings
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/4467/all-info |
Text | https://www.congress.gov/116/bills/s4467/BILLS-116s4467is.pdf |