To amend the Internal Revenue Code of 1986 to make a portion of research credit refundable for certain small businesses engaging in specified medical research.

Hozzl · 2023-12-15T16:01:40Z

Explore the details of House Bill 5206 To amend the Internal Revenue Code of 1986 to make a portion of research credit refundable for certain small businesses engaging in specified medical research. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/15/2023, 4:01 PM

Congressional Summary of HR 5206

This bill allows for the refundability of a portion of the tax credit for increasing research activities for small businesses (gross receipts not exceeding $1 million) engaged in specified medical research. Under the Public Health Service Act, specified medical research means research with respect to qualified countermeasures (i.e., a drug, biological product, or device for preventing harm from any biological agent or from a condition that may result in adverse health consequences or death).

Current Status of Bill HR 5206

Bill HR 5206 is currently in the status of Bill Introduced since August 15, 2023. Bill HR 5206 was introduced during Congress 118 and was introduced to the House on August 15, 2023. Bill HR 5206's most recent activity was Referred to the House Committee on Ways and Means. as of August 15, 2023