United States · Bill · S
S. 1256 (96th)
Research Promotion Act of 1979
Introduced
24 May 1979
Last action
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Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
2 September 2025
Summary
Research Promotion Act of 1979 - Amends the Internal Revenue Code to allow businesses with gross receipts not in excess of $250,000,000 a nonrefundable income tax credit equal to ten percent of their research and experimental expenditures which exceed 2.5 percent of their gross receipts for the taxable year. Provides for carryovers and carrybacks of unused credits in any taxable year.
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Votes
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 24 May 1979
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/96th-congress/senate-bill/1256
- Open data entity: https://api.congress.gov/v3/bill/96/s/1256