[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3444 Introduced in House (IH)]







109th CONGRESS
  1st Session
                                H. R. 3444

 To amend the Internal Revenue Code of 1986 to provide credits against 
 income tax for qualified stem cell research, the storage of qualified 
         stem cells, and the donation of umbilical cord blood.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 26, 2005

   Mr. Paul introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to provide credits against 
 income tax for qualified stem cell research, the storage of qualified 
         stem cells, and the donation of umbilical cord blood.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Cures Can Be Found Act of 2005''.

SEC. 2. QUALIFIED STEM CELL CREDITS.

    (a) Personal Credit for Qualified Stem Cell Research, Storage, and 
Donation.--Subpart A of part IV of subchapter A of chapter 1 of the 
Internal Revenue Code of 1986 (relating to nonrefundable personal 
credits) is amended by inserting after section 25B the following new 
section:

``SEC. 25C. QUALIFIED STEM CELL RESEARCH, STORAGE, AND DONATION CREDIT.

    ``(a) Allowance of Credit.--There shall be allowed as a credit 
against the tax imposed by this chapter--
            ``(1) an amount equal to the qualified stem cell research 
        and storage contribution paid by the taxpayer during a taxable 
        year, and
            ``(2) $2,000 for each qualified umbilical cord blood 
        donation made by the taxpayer during a taxable year.
    ``(b) Qualified Stem Cell Research and Storage Contribution.--For 
purposes of this section--
            ``(1) In general.--The term `qualified stem cell research 
        and storage contribution' means the amounts donated by the 
        taxpayer to an eligible facility for the purpose of promoting 
        qualified stem cell research or the storage of qualified stem 
        cells.
            ``(2) Qualified stem cell.--For purposes of this section, 
        the term `qualified stem cell' means a human stem cell obtained 
        from a human placenta, umbilical cord blood, an organ or tissue 
        of a living or deceased human being who has been born, or an 
        organ or tissue of unborn human offspring who died of natural 
        causes (such as spontaneous abortion).
            ``(3) Eligible facility.--The term `eligible facility' 
        means a research institution or storage facility that does not 
        engage in research relating to stem cells derived from human 
        embryos and does not store stem cells derived from human 
        embryos.
    ``(c) Qualified Umbilical Cord Blood Donation.--For purposes of 
this section, the term `qualified umbilical cord blood donation' means 
the donation by the taxpayer, on the occasion of the birth of a child 
of the taxpayer, of--
            ``(1) the neonatal blood remaining in the placenta and 
        umbilical cord after separation of the mother from the newborn 
        baby, or
            ``(2) any other part of the umbilical cord.
    ``(d) Filing Requirements.--
            ``(1) Married individuals.--If the taxpayer is married at 
        the close of the taxable year, the credit shall be allowed 
        under subsection (a)(2) only if--
                    ``(A) the taxpayer and his spouse file a joint 
                return for the taxable year, or
                    ``(B) the taxpayer is the mother of the child 
                referred to in subsection (c).
            ``(2) Individuals who are not married.--If the taxpayer is 
        not married at the close of the taxable year, the credit shall 
        be allowed under subsection (a) only if the taxpayer is the 
        mother of the child referred to in subsection (c).
            ``(3) Marital status.--An individual legally separated from 
        his spouse under a decree of divorce or of separate maintenance 
        shall not be considered as married.''.
    (b) Business Related Credit for Qualified Research and Storage.--
Subpart D of part IV of subchapter 1 of such Code is amended by 
inserting after section 45I the following new section:

``SEC. 45J. QUALIFIED STEM CELL RESEARCH AND STORAGE CREDITS.

    ``(a) General Rule.--For purposes of section 38--
            ``(1) Qualified stem cell research credit.--The qualified 
        stem cell research credit determined under this paragraph for 
        any taxable year is equal to 100 percent of the expenses paid 
        or incurred by the taxpayer during the taxable year that are 
        directly related to qualified stem cell research.
            ``(2) Qualified stem cell storage credit.--The qualified 
        stem cell storage credit determined under this paragraph for 
        any taxable year is equal to--
                    ``(A) 50 percent of the expenses paid or incurred 
                by the taxpayer during the taxable year to establish a 
                storage facility for qualified stem cells, and
                    ``(B) 20 percent of the expenses paid or incurred 
                by the taxpayer during the taxable year to maintain the 
                storage facility described in subparagraph (A).
    ``(b) Limitation.--With respect to a qualified stem cell storage 
facility for which an amount determined under subparagraph (A) of 
subsection (a)(2) has been allowed as a credit in a taxable year, the 
amount determined under such subparagraph with respect to such storage 
facility in a subsequent taxable year shall be zero.
    ``(c) Qualified Stem Cell.--For purposes of this section, the term 
`qualified stem cell' means a human stem cell obtained from a human 
placenta, umbilical cord blood, an organ or tissue of a living or 
deceased human being who has been born, or an organ or tissue of unborn 
human offspring who died of natural causes (such as spontaneous 
abortion).''.
    (c) Conforming Amendments.--
            (1) Section 38(b) is amended by striking ``plus'' at the 
        end of paragraph (18), by striking the period at the end of 
        paragraph (19) and inserting ``, plus'', and by adding at the 
        end the following:
            ``(20) the qualified stem cell research and storage credits 
        determined under section 45J(a).''.
            (2) The table of sections for subpart A of part IV of 
        subchapter A of chapter 1 of such Code is amended by inserting 
        after the item relating to section 25B the following new item:

``Sec. 25C. Qualified stem cell research, storage, and donation 
                            credit.''.
            (3) The table of sections for subpart D of part IV of 
        subchapter A of chapter 1 of such Code is amended by inserting 
        after the item relating to section 25B the following new item:

``Sec. 45J. Qualified stem cell research and storage credits.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2005.
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