[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 1131 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                S. 1131

 To amend the Internal Revenue Code of 1986 to permanently extend the 
                            research credit.


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                   IN THE SENATE OF THE UNITED STATES

                             July 31, 1997

   Mr. Mack introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to permanently extend the 
                            research credit.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PERMANENT EXTENSION OF RESEARCH CREDIT.

    (a) Credit Made Permanent.--
            (1) In general.--Section 41 of the Internal Revenue Code of 
        1986 (relating to credit for increasing research activities) is 
        amended by striking subsection (h).
            (2) Conforming amendment.--Paragraph (1) of section 45C(b) 
        of such Code is amended by striking subparagraph (D).
    (b) Effective Date.--The amendments made by subsection (a) shall 
apply to amounts paid or incurred after June 30, 1998.
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