[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 591 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 591

  To amend the Internal Revenue Code of 1986 to increase the research 
credit with respect to amounts paid or incurred for qualified research 
                    occurring in the United States.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 16, 2019

  Mr. Brown of Maryland (for himself, Mr. Cicilline, and Ms. Norton) 
 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 increase the research 
credit with respect to amounts paid or incurred for qualified research 
                    occurring in the United States.

    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 ``21st Century Investment Act of 
2019''.

SEC. 2. INCREASE IN RESEARCH CREDIT FOR CONTRACTED RESEARCH WITH UNITED 
              STATES BUSINESSES.

    (a) In General.--Section 41 of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new subsection:
    ``(i) Special Rule for Contracted Research With United States 
Manufacturing Business.--
            ``(1) In general.--If the taxpayer elects the application 
        of this subsection, subsection (a)(1) shall be applied by 
        substituting `25 percent' for `20 percent' with respect to 
        qualified United States research expenses.
            ``(2) Qualified united states research expenses.--For 
        purposes of this subsection, the term `qualified United States 
        research expenses' means any amount paid or incurred by the 
        taxpayer to any person (other than an employee of the taxpayer) 
        for qualified research, substantially all of which occurs in 
        the United States.
            ``(3) Separate application of section.--In the case of any 
        election of the application of this subsection, this section 
        shall be applied separately with respect to qualified United 
        States research expenses.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred in taxable years beginning after the 
date of the enactment of this Act.
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