US SB4822 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on October 20 2020 - 25% progression, died in committee
Action: 2020-10-20 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on October 20 2020 - 25% progression, died in committee
Action: 2020-10-20 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Revises and expands the tax credit for research and experimental expenditures to allow immediate expensing of such expenditures. It also allows the amortization over a period of at least 60 months of certain other types of research and experimental expenditures not treated as expenses. The bill also increases the maximum amount eligible for the tax credit for new and small businesses and increases to 20% the rate of the credit for business startups.
Title
American Innovation and Jobs Act
Sponsors
| Sen. Margaret Hassan [D-NH] | Sen. Todd Young [R-IN] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-10-20 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB4549 (Related) 2019-09-27 - Referred to the House Committee on Ways and Means.
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/4822/all-info |
| Text | https://www.congress.gov/116/bills/s4822/BILLS-116s4822is.pdf |
