S.2199 - PACE-Finance Act109th Congress (2005-2006)
|Sponsor:||Sen. Domenici, Pete V. [R-NM] (Introduced 01/26/2006)|
|Committees:||Senate - Finance|
|Latest Action:||09/26/2006 Sponsor introductory remarks on measure. (CR S10127) (All Actions)|
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Summary: S.2199 — 109th Congress (2005-2006)All Bill Information (Except Text)
Introduced in Senate (01/26/2006)
Protecting America's Competitive Edge Through Tax Incentives Act of 2006 or the PACE-Finance Act - Amends the Internal Revenue Code to: (1) make permanent the tax credit for increasing research activities; (2) increase the rate of such credit from 20 to 40%; (3) expand such credit to include expenses of a research consortia; and (4) allow a business tax credit for the cost of employee continuing education in science or engineering.
Directs the Secretary of the Treasury to: (1) study and make recommendations on methods to expand the scope of the tax credit for increasing research activities; (2) conduct an analysis of the U.S. tax system and its effect on innovation investment and related activities; and (3) report on such studies to the President and Congress.