3.0.0 2529 2023-01-01T23:42:30Z 2023-01-01T23:42:30Z Senate S 2021-07-29 117 ssfi00 Finance Committee Senate Standing Referred to 2021-07-29T15:19:00Z IGNITE American Innovation Act 117 3623 HR 2021-05-28 Referred to the House Committee on Ways and Means. Related bill CRS 2021-07-29 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2021-07-29 Introduced in Senate IntroReferral 10000 9 Library of Congress M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ N Taxation Business expenses Cardiovascular and respiratory health Corporate finance and management Disability assistance Drug therapy Emergency medical services and trauma care Health promotion and preventive care Health technology, devices, supplies Income tax credits Income tax deductions Infectious and parasitic diseases Medical research Medical tests and diagnostic methods Prescription drugs Research and development Taxation 00 2021-07-29 Introduced in Senate 2021-11-08T16:46:02Z Innovation and Growth Now by Investing in Tomorrow's Enterprises Act or the IGNITE American Innovation Act

This bill allows certain C corporation taxpayers to elect an increased advance refund of net operating loss carryovers attributable to COVID-19 research expenditures in 2020 and 2021. The bill also allows such taxpayers an advance refund of certain other net operating loss carryovers arising during 2015 through 2021.

The bill allows an increased research tax credit for COVID-19 research expenditures paid or incurred on or after February 15, 2020, and before January 1, 2022.

]]> IGNITE American Innovation Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide for advance refunds of certain net operating losses and research expenditures relating to COVID-19, and for other purposes. Introduced in Senate IS Display Title IGNITE American Innovation Act Short Title(s) as Introduced IGNITE American Innovation Act Introduced in Senate IS Short Title(s) as Introduced Innovation and Growth Now by Investing in Tomorrow’s Enterprises Act Introduced in Senate IS Introduced in Senate 2021-07-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s2529is/xml/BILLS-117s2529is.xml 2021-07-29 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.