To rescue domestic medical manufacturing activity by providing incentives in economically distressed areas of the United States and its possessions.
Summary
What This Bill Does
The bill creates economically distressed zones Chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subchapter: There shall be allowed as a credit against the tax imposed by subtitle A, creates 1400AA–1. Medical manufacturing in economically distressed zone credit There shall be allowed as a credit against the tax imposed by subtitle A for the taxable year an amount equal 40 percent of the sum of—, and requires 1400AA–2. Credit for economically distressed zone products and services acquired by domestic medical manufacturers In the case of an eligible medical manufacturer, there shall be allowed as a credit against. It relies on definition changes, compliance mandates, product standards, and appropriations. The main policy areas are Healthcare Consumers, Healthcare, Finance, and Environment.
Who Benefits and How
Patients and health care consumers affected by the bill could gain revenue opportunities, Foreign businesses and cross-border trade participants affected by the bill could face lower compliance burdens, and Environmental and public health interests affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Patients and health care consumers affected by the bill would take on compliance duties, and Businesses and employers affected by the bill would take on compliance duties.
Key Provisions
- Creates economically distressed zones Chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subchapter: There shall be allowed as a credit against the tax imposed by subtitle A...
- Creates 1400AA–1. Medical manufacturing in economically distressed zone credit There shall be allowed as a credit against the tax imposed by subtitle A for the taxable year an amount equal 40 percent of the sum of—...
- Requires 1400AA–2. Credit for economically distressed zone products and services acquired by domestic medical manufacturers In the case of an eligible medical manufacturer, there shall be allowed as a credit against...
- Requires 1400AA–3. Special rules to secure the national supply chain and for the production of population health products In the case of a qualified repatriated medical manufacturing facility or a qualified population...
- Provides 1400AA–4. Designation of economically distressed zones.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates economically distressed zones Chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subchapter: There shall be allowed as a credit against the tax imposed by subtitle A, creates 1400AA–1. Medical manufacturing in economically distressed zone credit There shall be allowed as a credit against the tax imposed by subtitle A for the taxable year an amount equal 40 percent of the sum of—, and requires 1400AA–2. Credit for economically distressed zone products and services acquired by domestic medical manufacturers In the case of an eligible medical manufacturer, there shall be allowed as a credit against.
Key Policy Areas
Healthcare Consumers, Healthcare, Finance, Environment
Primary Purpose
The bill creates economically distressed zones Chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subchapter: There shall be allowed as a credit against the tax imposed by subtitle A, creates 1400AA–1. Medical manufacturing in economically distressed zone credit There shall be allowed as a credit against the tax imposed by subtitle A for the taxable year an amount equal 40 percent of the sum of—, and requires 1400AA–2. Credit for economically distressed zone products and services acquired by domestic medical manufacturers In the case of an eligible medical manufacturer, there shall be allowed as a credit against.
Policy Domains
Whole bill
Identified Gains
- Patients and health care consumers affected by the bill
- Foreign businesses and cross-border trade participants affected by the bill
- Environmental and public health interests affected by the bill
- Businesses and employers affected by the bill
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Patients and health care consumers affected by the bill
- Businesses and employers affected by the bill
- Researchers and scientific institutions affected by the bill
Sponsors
Legislative Progress
IntroducedMrs. González-Colón (for herself and Ms. Salazar) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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