Lifesaving Vaccine Technology Act of 1999

Summary

Lifesaving Vaccine Technology Act of 1999 - Amends the Internal Revenue Code to establish an income tax credit for 30 percent of the qualified expenses (excluding amounts funded by any grant, contract, or otherwise by another person or any governmental entity) for medical research related to developing vaccines against widespread diseases like malaria, tuberculosis, HIV, or any infectious disease (of a single etiology) which, according to the World Health Organization, causes over one million human deaths annually. States that any qualified vaccine research expenses for a taxable year to which an election under this Act applies shall not be taken into account for purposes of determining the credit allowable for increasing research expenditures. Denies such a credit with respect to any vaccine research (other than human clinical testing) conducted outside the United States. States that the vaccine research credit shall include an amount equal to 20 percent of the amount paid by the taxpayer to acquire qualified research stock in a corporation if the corporation waives its own right to the credit and meets other specified criteria. Declares that it is the sense of Congress that if the vaccine research credit is allowed to any corporation or shareholder of a corporation, the corporation should certify to the Secretary of the Treasury that, within one year after that vaccine is first licensed, the corporation will establish a good faith plan utilizing technology transfer, differential pricing, in-country production, or other mechanisms to maximize international access to high quality and affordable vaccines. Directs the Institute of Medicine to study and report to Congress on the effectiveness of the vaccine research credit in stimulating vaccine research. Expresses the sense of Congress that the President and Federal agencies (including the Departments of State, Health and Human Services, and the Treasury) should work together in vigorous support of the creation and funding of a multi-lateral, international effort, such as a vaccine purchase fund, to accelerate the introduction of vaccines to which the vaccine research credit applies and of other priority vaccines into the poorest countries in the world. Expresses the sense of Congress that flexible or differential pricing for vaccines, providing lowered prices for the poorest countries, is one of several valid strategies to accelerate the introduction of vaccines in developing countries.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 24 March 1999

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• Introduced in House (PDF)

  Introduced in House · EN · 24 March 1999

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• Introduced in House

  summary · EN · 24 March 1999

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