3.0.0 2297 2023-01-11T13:36:51Z 2023-01-11T13:36:51Z House HR 2017-05-02 115 [Congressional Record Volume 163, Number 75 (Tuesday, May 2, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. MEEHAN:H.R. 2297.Congress has the power to enact this legislation pursuantto the following:This bill is enacted pursuant to: Article I, Section 8,Clause I[Page H3068]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-05-02T14:01:35Z 2017-05-02 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-05-02 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-05-02 Introduced in House IntroReferral 1000 9 Library of Congress M001181 Rep. Meehan, Patrick [R-PA-7] Patrick Meehan R PA 7 N K000376 Rep. Kelly, Mike [R-PA-3] Mike Kelly R PA 3 2017-05-02 True N000015 Rep. Neal, Richard E. [D-MA-1] RICHARD NEAL D MA E. 1 2017-05-02 True L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2017-05-02 True K000188 Rep. Kind, Ron [D-WI-3] RON KIND D WI 3 2017-05-02 True Taxation Accounting and auditing Advanced technology and technological innovations Business investment and capital Capital gains tax Income tax credits Income tax deductions Inflation and prices Research and development Small business Tax administration and collection, taxpayers Taxation 00 2017-05-02 Introduced in House 2017-06-05T14:46:33Z Partnerships to Advance Revolutionary Technology and Novel Entrepreneurial Research Act or the PARTNER Act

This bill amends the Internal Revenue Code to exempt from the definition of "passive activity," for purposes of the passive loss tax rules, any qualified research activity carried on by a high technology research small business pass-thru entity.

The bill defines "high technology research small business pass-thru entity" as any domestic pass-thru entity if: (1) more than 75% of the entity's expenditures are paid or incurred in connection with qualified research that involves a process of experimentation conducted by the entity, or (2) more than 50% of the entity's expenditures constitute qualified research expenses. A high technology research entity is a small business if such entity has 250 or fewer full-time employees. The entity may not have aggregate gross assets in excess of $150 million at any time during the taxable year.

]]> PARTNER Act Display Title PARTNER Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide an exception from the passive loss rules for investments in high technology research small business pass-thru entities. Introduced in House IH Short Titles as Introduced PARTNER Act Short Titles as Introduced Partnerships to Advance Revolutionary Technology and Novel Entrepreneurial Research Act Introduced in House 2017-05-02T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2297ih/xml/BILLS-115hr2297ih.xml 2017-05-02 Referred to the House Committee on Ways and Means. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.