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United States · Bill · S

S. 2484 (100th)

Research and Experimental Credit Extension and Reform Act of 1988

openUnited States· United States Congress· EN

Introduced

8 June 1988

Last action

12 July 1988 · Committee

Status

Subcommittee on Taxation and Debt Management. Hearings held.

Sponsors

Sen. Danforth, John C. [R-MO], Rep. Baucus, Max [D-MT-1], Sen. Wallop, Malcolm [R-WY], Sen. Kerry, John F. [D-MA], Sen. Heinz, John [R-PA], Sen. Durenberger, Dave [R-MN], Sen. Chafee, John H. [R-RI], Sen. Mitchell, George J. [D-ME], Sen. Boren, David L. [D-OK], Sen. McCain, John [R-AZ], Sen. Riegle, Donald W., Jr. [D-MI], Sen. Bond, Christopher S. [R-MO], Sen. Cranston, Alan [D-CA], Sen. Wilson, Pete [R-CA], Rep. Symms, Steven D. [R-ID-1], Sen. Bingaman, Jeff [D-NM], Sen. Rudman, Warren [R-NH], Sen. Sanford, Terry [D-NC], Sen. DeConcini, Dennis [D-AZ], Sen. Weicker, Lowell P., Jr. [R-CT], Chuck Grassley, Sen. Heflin, Howell [D-AL], Sen. Lautenberg, Frank R. [D-NJ], Sen. Helms, Jesse [R-NC], Rep. Cochran, Thad [R-MS-4], Sen. Rockefeller, John D., IV [D-WV], Sen. Simpson, Alan K. [R-WY], Sen. Gore, Albert, Jr. [D-TN], Sen. Evans, Daniel J. [R-WA], Sen. Hecht, Chic [R-NV], Sen. Levin, Carl [D-MI], Sen. Glenn, John H., Jr. [D-OH], Sen. Thurmond, Strom [R-SC], Sen. Burdick, Quentin N. [D-ND], Sen. Pell, Claiborne [D-RI]

Subjects

Taxation

Source updated

28 August 2025

Taxation

Official sourceView documentsShare

Summary

Research and Experimental Credit Extension and Reform Act of 1988 - Amends the Internal Revenue Code to make permanent the income tax credit for qualified research expenditures by repealing the provisions that would terminate the credit for expenses incurred or paid after 1988. Revises the method for computing: (1) base period research expenses, adding a factor reflecting the gross national product growth rate; and (2) the tax credit, adding an alternative computation component. Applies the credit to in-house research expenses that the taxpayer pays or incurs for the principal purpose of using the research results in the active conduct of a future trade or business.

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Timeline

  1. 8 June 1988

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 8 June 1988

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 12 July 1988

    Committee

    Subcommittee on Taxation and Debt Management. Hearings held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Sponsors

Related records

No cross-record relationships stored yet.

Sources

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