Biotechnology Future Investment Expansion Act of 2003

Summary

Biotechnology Future Investment Expansion Act of 2003 - Amends the Internal Revenue Code to provide that in the case of a biomedical research corporation, any owner shift involving a five-percent shareholder which occurs as the result of a qualified investment during the testing period shall be treated as occurring before the testing period. (Thus not counting toward net operating loss and tax credit carryover limitations.) Defines: (1) "biomedical research corporation" as a domestic corporation not in bankruptcy which has a drug or biologic in certain clinical trials; and (2) "qualified investment" as a stock acquisition in a biomedical research corporation acquired in cash at its original issue. Requires a biomedical research corporation to meet a five-year expenditure test with respect to any qualified investment.

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Timeline

1. 22 October 2003

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 22 October 2003

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 22 October 2003 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 22 October 2003

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 22 October 2003

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 22 October 2003

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Santorum, Rick [R-PA] · R · Sponsor
• Sen. Carper, Thomas R. [D-DE] · D · Sponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Cosponsor
• Sen. Allen, George [R-VA] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Biotechnology Future Investment Expansion Act of 2003