113 HR 905 IH: Research and Development Tax Credit Extension Act of 2013 U.S. House of Representatives 2013-02-28 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 113th CONGRESS 1st Session H. R. 905 IN THE HOUSE OF REPRESENTATIVES February 28, 2013 Mr. Carney introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to make the research credit permanent and to increase the alternative simplified research credit.

1.

Short title

This Act may be cited as the Research and Development Tax Credit Extension Act of 2013.

2.

Research credit made permanent; increase in alternative simplified research credit

(a)

Research credit made permanent

(1)

In general

Section 41 of the Internal Revenue Code of 1986 is amended by striking subsection (h). (2)

Conforming amendments

(A)Subsection (c) of section 41 of such Code is amended by striking paragraph (4). (B)Paragraph (1) of section 45C(b) of such Code is amended by striking subparagraph (D). (3)

Effective date

The amendments made by this subsection shall apply to amounts paid or incurred after December 31, 2013. (b)

Increase in alternative simplified research credit

(1)

In general

Subparagraph (A) of section 41(c)(5) of such Code (relating to election of alternative simplified credit) is amended by striking 14 percent (12 percent in the case of taxable years ending before January 1, 2009) and inserting 17 percent. (2)

Effective date

The amendments made by this subsection shall apply to taxable years ending after the date of the enactment of this Act.