II 111th CONGRESS 1st Session S. 37 IN THE SENATE OF THE UNITED STATES January 6, 2009 Mr. McCain 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.

1.

Permanent extension of research credit

(a)

In general

Section 41 of the Internal Revenue Code of 1986 is amended by striking subsection (h). (b)

Conforming amendment

Paragraph (1) of section 45C(b) of the Internal Revenue Code of 1986 is amended by striking subparagraph (D). (c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2009.