- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedDecember 12th, 2013
- house Committees
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Igniting American Research Act
To amend the Internal Revenue Code of 1986 to extend the research credit one year, to increase and make permanent the alternative simplified research credit, and to provide a 20 percent credit for payments to biotechnology research consortiums for biotechnology research.
Igniting American Research Act - Amends the Internal Revenue Code, with respect to the tax credit for increasing research expenditures, to: (1) extend such credit through 2014; (2) increase the rate of the alternative simplified research tax credit to 20% and make such credit permanent; (3) allow a 20% research tax credit for payments to a tax-exempt biotechnology research consortium for biotechnology research; and (4) modify the requirements relating to the eligibility of an energy research consortium for the tax credit to require at least 3 unrelated persons (currently, 5 unrelated persons) to make payments to such a consortium for energy research.