3.0.0 2197 2023-01-11T13:39:09Z 2023-01-11T13:39:09Z Senate S 2017-12-06 115 ssfi00 Finance Committee Senate Standing Referred to 2017-12-06T21:21:43Z REACH Act 115 2821 HR 2017-06-07 Referred to the House Committee on Ways and Means. Related bill CRS 2017-12-06 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-12-06 Introduced in Senate IntroReferral 10000 9 Library of Congress B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI N Taxation Computers and information technology Income tax credits Income tax deductions Manufacturing Research and development Tax administration and collection, taxpayers Taxation 00 2017-12-06 Introduced in Senate 2018-04-27T20:48:18Z This bill amends the Internal Revenue Code, with respect to the tax credit for increasing research activities (known as the research and experimentation tax credit), to:

  • increase the alternative simplified credit rate to match the rate of the regular credit;
  • allow taxpayers to use reasonable estimation techniques in lieu of contemporaneous accounting to measure employee hours per business component;
  • allow employees engaging in the direct supervision or direct support of research activities which constitute qualified research to be included in the research expense calculation without regard to the employee's position or management level;
  • allow the credit to be used for research related to the adaptation of an existing business component to a particular customer's requirement or need, cost reduction, or obsolescence mitigation; and
  • allow taxpayers to make an election for a reduced credit (in order to be allowed a full deduction for research expenses) on an amended tax return.

The bill also allows a business-related tax credit equal to 10% of the qualified connective manufacturing equipment expenditures made by the taxpayer during the year. The credit applies to expenditures relating to the purchase or installation of: (1) industrial equipment components that contain a microprocessor and can be connected to an electronic communication network; and (2) software, routing, or local area network components necessary to connect the components to an electronic communication network.

]]> A bill to amend the Internal Revenue Code of 1986 to reform the credit for increasing research activities, and for other purposes. Display Title A bill to amend the Internal Revenue Code of 1986 to reform the credit for increasing research activities, and for other purposes. Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to reform the credit for increasing research activities, and for other purposes. Introduced in Senate 2017-12-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s2197is/xml/BILLS-115s2197is.xml 2017-12-06 Read twice and referred to the Committee on Finance. 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.