H.R.5358 - Medication Price Control Act of 1990101st Congress (1989-1990)
|Sponsor:||Rep. Stark, Fortney Pete [D-CA-9] (Introduced 07/24/1990)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 07/24/1990 Referred to the House Committee on Ways and Means. (All Actions)|
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Summary: H.R.5358 — 101st Congress (1989-1990)All Information (Except Text)
Introduced in House (07/24/1990)
Medication Price Control Act of 1990 - Amends the Internal Revenue Code to disallow the credit for increasing research activities for any drug which is determined by the Food and Drug Administration to essentially duplicate in medical importance and therapeutic usage one or more already marketed drugs.
Requires any taxpayer that claimed such a credit to notify the Secretary of the Treasury of such a determination through an information return.
Disallows such research credit for taxpayers who charge an excessive price for any new therapeutic medication manufactured by the taxpayer.