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H.R. 4767House108th Congress (2003-2005)In Committee

To amend the Internal Revenue Code of 1986 to triple the amount of the credit allowed for basic research.

Sponsored by Nick SmithRep. Nick Smith (R-MI)
Introduced July 7, 2004

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HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

July 7, 2004

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HouseIntro Referral

Introduced in House

July 7, 2004

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

July 7, 2004

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Introduced in HouseIssued July 7, 2004

I

108th CONGRESS

2d Session

H. R. 4767

IN THE HOUSE OF REPRESENTATIVES

July 7, 2004

Mr. Smith of Michigan introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to triple the amount of the credit allowed for basic research.

1.

Increase in amount of credit for basic research

(a)

In general

Paragraph (2) of section 41(a) of the Internal Revenue Code of 1986 (relating to general rule for credit for increasing research activities) is amended by striking 20 percent and inserting 60 percent.

(b)

Effective date

The amendment made by subsection (a) shall apply to taxable years beginning after the date of the enactment of this Act.