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United States · Bill · HR

H.R. 7527 (116th)

MMEDS Act of 2020

referredUnited States· United States Congress· EN

Introduced

9 July 2020

Last action

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Status

Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Sponsors

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Subjects

Discovery layer

Source updated

3 January 2025

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Summary

Medical Manufacturing, Economic Development, and Sustainability Act of 2020 or the MMEDS Act of 2020 This bill provides incentives for relocating medical manufacturing facilities in the United States and for manufacturing medical products (i.e., drugs and devices) in economically distressed zones. Specifically, the bill allows a income tax credit for 40% of the sum of wages paid in a medical manufacturing economically distressed zone, employee fringe benefit expenses, and depreciation and amortization allowances with respect to qualified medical manufacturing facility property, and a credit for economically distressed zone products and services acquired by domestic medical manufacturers. The bill increases the credit rate for minority businesses.

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Documents

3 official files

Introduced in House (text)

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