Infectious Disease Therapies Research and Innovation Act of 2022

Hozzl · 2022-12-29T23:03:23Z

Explore the details of House Bill 7515 Infectious Disease Therapies Research and Innovation Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/29/2022, 11:03 PM

Summary of Bill HR 7515

Bill 117 HR 7515, also known as the Infectious Disease Therapies Research and Innovation Act of 2022, aims to address the ongoing challenges posed by infectious diseases through increased research and innovation. The bill focuses on developing new therapies and treatments to combat infectious diseases, with a particular emphasis on emerging and drug-resistant pathogens.

Key provisions of the bill include the establishment of a grant program to support research and development of new therapies for infectious diseases. This program will provide funding to researchers and institutions working on innovative treatments, with a focus on addressing gaps in current treatment options.

Additionally, the bill calls for the creation of a task force to coordinate efforts across government agencies and private sector partners to accelerate the development and approval of new infectious disease therapies. This task force will work to streamline regulatory processes and promote collaboration among stakeholders in the field. Overall, the Infectious Disease Therapies Research and Innovation Act of 2022 seeks to enhance the nation's ability to respond to infectious disease threats by fostering research and innovation in the development of new therapies. By investing in cutting-edge treatments and promoting collaboration among key stakeholders, the bill aims to improve public health outcomes and protect against the spread of infectious diseases.

Congressional Summary of HR 7515

Infectious Disease Therapies Research and Innovation Act of 2022

This bill exempts from the definition of passive activity, for purposes of the passive loss tax rules, any qualified medical research activity of a specified medical research small business pass-thru entity.

The bill defines specified medical research small business pass-thru entity as any domestic pass-thru entity if more than 80% of such entity's expenditures on research are paid or incurred in connection with qualified medical research activities and the gross receipts of such entity for the taxable year are less than $1 million.

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Current Status of Bill HR 7515

Bill HR 7515 is currently in the status of Bill Introduced since April 14, 2022. Bill HR 7515 was introduced during Congress 117 and was introduced to the House on April 14, 2022. Bill HR 7515's most recent activity was Referred to the House Committee on Ways and Means. as of April 14, 2022

Bipartisan Support of Bill HR 7515

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 7515

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 7515

Infectious Disease Therapies Research and Innovation Act of 2022

To amend the Internal Revenue Code of 1986 to provide an exception from the passive loss rules for investments in specified medical research small business pass-thru entities.