High Technology Research and Educational Development Act of 1983

Summary

High Technology Research and Educational Development Act of 1983 - Amends the Internal Revenue Code to allow corporations an increased income tax deduction for charitable contributions of: (1) computer equipment, software, and related services and maintenance given to elementary and secondary schools for use in education, and (2) scientific and technical equipment given to institutions of higher education and vocational schools for use in education, research, and research training. Expands the income tax credit for increasing research expenditures to include contract research expenses for payments to universities for faculty salaries, scholarships, grants, or loans for graduate students in mathematics, engineering, or science. Excludes such contract research expenses from the calculation of base period amounts, for purposes of determining whether the taxpayer has increased expenditures for research. Provides for an income tax exclusion for the scholarships, fellowship grants, student loan forgiveness, or stipends of a graduate student in mathematics, engineering, computer science, or the physical or biological sciences. Specifies that such tax exclusion is not forfeited merely because the student is required, as a condition of the scholarship or fellowship, to perform future service in teaching or research.

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Timeline

1. 3 May 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 3 May 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 9 May 1983

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department.

   Source: Committee

4. 27 May 1983

   Committee

   Subcommittee on Taxation and Debt Management. Hearings held. Hearings printed: S.Hrg. 98-205.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 3 May 1983

  Open at official source

Sponsors

• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Sen. Chafee, John H. [R-RI] · R · Sponsor
• Sen. Burdick, Quentin N. [D-ND] · D · Cosponsor
• Rep. Cohen, William S. [R-ME-2] · R · Cosponsor
• Sen. Mattingly, Mack [R-GA] · R · Cosponsor
• · ssfi00 · Standing

Related records

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