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To amend the Internal Revenue Code of 1986 to allow an increased credit for development and to extend and simplify the credit for increasing research.
Amends the Internal Revenue Code to: (1) allow through 2018 a new business-related tax credit for an increase in expenditures for qualified development expenses (defined as the sum of any in-house and contract development expenses incurred in the trade or business of a taxpayer), (2) increase to 20% the rate of the alternative simplified research tax credit, and (3) extend through 2018 the tax credit for increasing research activities.
- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedOctober 30th, 2013
- house Committees