Research and Development Tax Credit Act of 2009

Summary

Research and Development Tax Credit Act of 2009 - Amends the Internal Revenue Code to: (1) modify the tax credit for increasing research expenses to establish a standard 20% credit rate for research expenses exceeding 50% of average expenses over the preceding three year period; (2) establish a uniform 80% reimbursement rate for all contract research expenses (100% for basic research payments); (3) make such tax credit permanent; (4) allow a tax credit for equity investments in small business innovation companies; and (5) allow the issuance of tax exempt facility bonds for research park facilities used in connection with research and experimentation. Directs the Secretary of the Treasury to: (1) study and report to Congress on taxpayer compliance with the substantiation requirements for claiming the tax credit for increasing research activities; and (2) issue regulations on the application of private activity bond rules to the funding of federal research agreements.

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Timeline

1. 27 January 2009

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 27 January 2009

   Introduced

   Introduced in House

   Source: IntroReferral

3. 27 January 2009

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

• Introduced in House · 27 January 2009 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 January 2009

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 27 January 2009

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 27 January 2009

  Open at official source

Sponsors

• EDDIE JOHNSON · D · Sponsor
• James McGovern · D · Sponsor
• · hswm00 · Standing

Related records

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