3.0.0 2207 2022-11-01T13:50:28Z 2022-11-01T13:50:28Z Senate S 2019-07-23 116 ssfi00 Finance Committee Senate Standing Referred to 2019-07-23T15:52:55Z Research and Development Tax Credit Expansion Act of 2019 116 5520 HR 2019-12-19 Referred to the House Committee on Ways and Means. Identical bill CRS 2019-07-23 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2019-07-23 Introduced in Senate IntroReferral 10000 9 Library of Congress H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH N T000476 Sen. Tillis, Thomas [R-NC] Thomas Tillis R NC Roland 2019-07-23 True C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2020-05-04 False Taxation Business investment and capital Employment taxes Income tax credits Income tax rates Inflation and prices Research administration and funding Research and development Small business Taxation 00 2019-07-23 Introduced in Senate 2019-07-31T13:44:36Z Research and Development Tax Credit Expansion Act of 2019

This bill modifies the refundable research tax credit for new and small businesses to (1) increase the limit on refundability to $500,000, with an adjustment for inflation; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross receipts (currently, less than $5 million).

The bill also increases the rate of the alternative simplified tax credit for such businesses.

]]> Research and Development Tax Credit Expansion Act of 2019 Display Title Research and Development Tax Credit Expansion Act of 2019 Short Title(s) as Introduced Research and Development Tax Credit Expansion Act of 2019 Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to expand refundability and increase simplification of the research credit for certain small businesses. Introduced in Senate IS Introduced in Senate 2019-07-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s2207is/xml/BILLS-116s2207is.xml 2019-07-23 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.