Research and Development Enhancement Act of 1993

Summary

Research and Development Enhancement Act of 1993 - Amends the Internal Revenue Code to extend permanently (currently, terminated on June 30, 1992) the research credit. Allows such credit to offset 50 percent of the tentative minimum tax of a taxpayer. Revises the definition of the fixed-base percentage of research expenses in various taxable years for purposes of computing the amount of the research credit. Provides a flat research credit for eligible small businesses (those having gross receipts no greater than $100 million) of ten percent of the qualified research expenses for the taxable year. Provides special rules for the defense and aerospace industries with respect to such credit determination. Allows a research credit of 20 percent of qualified cooperative research expenditures, with limitations on the amount of contributions to cooperative research consortia and on private source funding of such research. Provides special tax rules with respect to such consortia and requires each such consortium to provide specified information with respect to its research expenditures (and their funding) to the Secretary of the Treasury. Includes university affiliated hospitals among those qualified organizations to which a research credit will be allowed for contributions.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 March 1993

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 March 1993

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• Introduced in Senate

  summary · EN · 26 March 1993

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