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United States · Bill · HR

H.R. 3623 (117th)

IGNITE American Innovation Act

referredUnited States· United States Congress· EN

Introduced

28 May 2021

Last action

28 May 2021 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Phillips, Dean [D-MN-3], Rep. Walorski, Jackie [R-IN-2], Sen. Curtis, John R. [R-UT]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Summary

Innovation and Growth Now by Investing in Tomorrow's Enterprises Act or the IGNITE American Innovation Act This bill allows certain C corporation taxpayers to elect an increased advance refund of net operating loss carryovers attributable to COVID-19 research expenditures in 2020 and 2021. The bill also allows such taxpayers an advance refund of certain other net operating loss carryovers arising during 2015 through 2021. The bill allows an increased research tax credit for COVID-19 research expenditures paid or incurred on or after February 15, 2020, and before January 1, 2022.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 28 May 2021

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 28 May 2021

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 28 May 2021

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 28 May 2021

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 28 May 2021

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 28 May 2021

    Open at official source

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Sponsors

Related records

Sources

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