To amend the Internal Revenue Code of 1986, to extend the credit for clinical testing expenses for certain drugs for rare diseases or conditions, to impose a windfall profit tax on such drugs if they become excessively profitable, and for other purposes.

Summary

Amends the Internal Revenue Code to extend through 1993 the tax credit for clinical testing expenses for certain drugs for rare diseases or conditions. Includes preclinical testing expenses under such tax credit. Provides for determining the credit recapture amount when using preclinical testing of a drug for a disease or condition that has not previously been designated as a rare disease or condition. Imposes a windfall profits tax (after recovery of twice the total investment in drug development) on the profits from orphan drugs for rare diseases or conditions.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

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• Introduced in House

  summary · EN · 31 July 1990

  Open at official source

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