Research Tax Incentive Act of 1979

Summary

Research Tax Incentive Act of 1979 - Amends the Internal Revenue Code to allow an additional ten percent investment tax credit for investment in research and experimental property. Denies such credit to taxpayers whose gross receipts were in excess of $250,000,000 for a taxable year, or whose research and experimental expenditures did not exceed 2.5 percent of the gross receipts for a taxable year. Extends the investment tax credit to buildings and structural components used in research and experimentation. Requires the recapture of credit amounts if investment property ceases to be used for research and experimental purposes. Allows the amortization of research and experimental property, based on a period of not less than 60 months.

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Timeline

1. 11 June 1979

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 11 June 1979

   Introduced

   Introduced in House

   Source: IntroReferral

3. 11 June 1979

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 11 June 1979

  Open at official source

Sponsors

• Rep. LaFalce, John J. [D-NY-36] · D · Sponsor
• Rep. Blanchard, James [D-MI-18] · D · Cosponsor
• Rep. Carter, Tim Lee [R-KY-5] · R · Cosponsor
• Rep. Ertel, Allen E. [D-PA-17] · D · Cosponsor
• Rep. Hollenbeck, Harold C. [R-NJ-9] · R · Cosponsor
• Rep. Hughes, William J. [D-NJ-2] · D · Cosponsor
• Rep. Jenrette, John W., Jr. [D-SC-6] · D · Cosponsor
• Sen. Markey, Edward J. [D-MA] · D · Cosponsor
• Rep. Murphy, Austin J. [D-PA-22] · D · Cosponsor
• Rep. Neal, Stephen L. [D-NC-5] · D · Cosponsor
• Rep. Nowak, Henry [D-NY-37] · D · Cosponsor
• Rep. Seiberling, John F. [D-OH-14] · D · Cosponsor
• Rep. Stokes, Louis [D-OH-21] · D · Cosponsor
• Rep. Winn, Larry, Jr. [R-KS-3] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Research Tax Incentive Act of 1979