Scientific Research and Education Act

Summary

Scientific Research and Education Act - Amends the Internal Revenue Code to increase from 65 to 100 percent the amount of expenses eligible for the tax credit for amounts paid by a corporation for certain basic research by colleges, universities, and certain research organizations. Allows such credit for amounts paid by a corporation for scientific education at an institution of higher education. Limits such credit to the extent such amounts are used by the recipient for the payment of wages. Sets special rules for grants made to certain research funds. Disqualifies subchapter S corporations, personal holding companies, and personal service corporations for the credit.

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1 official file

• Introduced in House

  summary · EN · 25 May 1982

  Open at official source

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