[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 355 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                 S. 355

To amend the Internal Revenue Code of 1986 to make the research credit 
                               permanent.


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                   IN THE SENATE OF THE UNITED STATES

                           February 25, 1997

  Mr. Gramm (for himself and Mrs. Hutchison) 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 make the research credit 
                               permanent.

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

SECTION 1. EXTENSION OF RESEARCH CREDIT.

    (a) Credit Made Permanent.--
            (1) In general.--Section 41 of the Internal Revenue Code of 
        1986 is amended by striking subsection (h).
            (2) Conforming amendment.--Section 45C(b)(1) of such Code 
        is amended by striking subparagraph (D).
            (3) Effective date.--The amendments made by this subsection 
        shall apply to amounts paid or incurred after May 31, 1997, in 
        taxable years ending after such date.
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