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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
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5207
Primary Policy Focus
TaxationComments
Sponsors and Cosponsors of HR 5207
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