To amend the Internal Revenue Code of 1986 to enhance tax benefits for research activities.
Summary
What This Bill Does
The bill creates restoring immediate expensing for research and development investments Section 174 of the Internal Revenue Code of 1986 is amended to read as follows: 174.Research and experimental expenditures(a)Treatment, requires research and experimental expenditures A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses, and creates expanding refundable research credit for new and small businesses Subclause (I) of section 41(h)(4)(B)(i) of the Internal Revenue Code of 1986 is amended by striking $250,000 and inserting the applicable amount. It relies on compliance mandates, definition changes, tax credits, and product standards. The main policy areas are Oil & Gas, Finance, Housing, and Energy.
Who Benefits and How
Oil and gas producers, refiners, or users affected by the bill could face lower compliance burdens, Lobbyists, political organizations, and disclosure users affected by the bill could face lower compliance burdens, and Homeowners, tenants, or housing market participants 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, Researchers and scientific institutions 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 restoring immediate expensing for research and development investments Section 174 of the Internal Revenue Code of 1986 is amended to read as follows: 174.Research and experimental expenditures(a)Treatment...
- Requires research and experimental expenditures A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses...
- Creates expanding refundable research credit for new and small businesses Subclause (I) of section 41(h)(4)(B)(i) of the Internal Revenue Code of 1986 is amended by striking $250,000 and inserting the applicable amount.
- Requires increasing access to the research credit for startups Paragraph (4) of section 41(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: (D)Special rules...
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 restoring immediate expensing for research and development investments Section 174 of the Internal Revenue Code of 1986 is amended to read as follows: 174.Research and experimental expenditures(a)Treatment, requires research and experimental expenditures A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses, and creates expanding refundable research credit for new and small businesses Subclause (I) of section 41(h)(4)(B)(i) of the Internal Revenue Code of 1986 is amended by striking $250,000 and inserting the applicable amount.
Key Policy Areas
Oil & Gas, Finance, Housing, Energy
Primary Purpose
The bill creates restoring immediate expensing for research and development investments Section 174 of the Internal Revenue Code of 1986 is amended to read as follows: 174.Research and experimental expenditures(a)Treatment, requires research and experimental expenditures A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses, and creates expanding refundable research credit for new and small businesses Subclause (I) of section 41(h)(4)(B)(i) of the Internal Revenue Code of 1986 is amended by striking $250,000 and inserting the applicable amount.
Policy Domains
Whole bill
Identified Gains
- Oil and gas producers, refiners, or users affected by the bill
- Lobbyists, political organizations, and disclosure users affected by the bill
- Homeowners, tenants, or housing market participants 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
- Researchers and scientific institutions affected by the bill
- Businesses and employers affected by the bill
- Lobbyists, political organizations, and disclosure users affected by the bill
Sponsors
Legislative Progress
IntroducedMs. Hassan (for herself, Mr. Young, Ms. Cortez Masto, Mr. …
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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