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To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.

12/15/2023, 4:01 PM

Congressional Summary of HR 5207

This bill expands the tax credit for increasing research activities to add a new credit amount equal to 14% of specified medical research expenditures. The bill defines specified medical research expenditures as amounts paid or incurred for research with respect to any qualified countermeasure (i.e., a drug, biological product, or device determined to be a priority in protecting against harm from a biological agent or adverse health condition).

Current Status of Bill HR 5207

Bill HR 5207 is currently in the status of Bill Introduced since August 15, 2023. Bill HR 5207 was introduced during Congress 118 and was introduced to the House on August 15, 2023.  Bill HR 5207's most recent activity was Referred to the House Committee on Ways and Means. as of August 15, 2023

Bipartisan Support of Bill HR 5207

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5207

Primary Policy Focus

Taxation

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