A bill to amend the Internal Revenue Code of 1954 to provide a tax credit for the expenses of collecting certain types of scientific data in foreign countries.

Summary

Amends the Internal Revenue Code to provide an income tax credit to corporations of ten percent of the foreign data collection expenses paid or incurred by the corporation during the taxable year. Defines "foreign data collection expenses" as any amount: (1) paid or incurred for purposes of collecting, translating, or disseminating scientific or technological papers or other materials of any foreign country which is a member of the Organization for Economic Cooperation and Development; and (2) which is attributable to activities conducted in such foreign country. Excludes from eligibility for such credit any: (1) electing small business corporation; (2) personal holding company; and (3) service organization.

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1 official file

• Introduced in House

  summary · EN · 19 May 1982

  Open at official source

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