A bill to amend section 174 of the Internal Revenue Code of 1954 to insure its uniform application to business products.

Summary

States that any expenditure paid or incurred by a taxpayer in connection with his trade or business for the development or improvement of a product shall be treated, under the Internal Revenue Code, as a research or experimental expenditure irrespective of the nature of such product and irrespective of whether the product constitutes the result of research on a literary, historical, or similar project. (Amends 26 U.S.C. 174)

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 19 June 1974

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 19 June 1974

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 19 June 1974

  Open at official source

Sponsors

• Sen. Stevenson, Adlai E., III [D-IL] · D · Sponsor
• Sen. Javits, Jacob K. [R-NY] · R · Cosponsor
• Sen. Humphrey, Hubert H. [D-MN] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend section 174 of the Internal Revenue Code of 1954 to insure its uniform application to business products.