H.R.1988 - Qualifying Therapeutic Discovery Project Tax Credit Extension Act of 2011112th Congress (2011-2012)
|Sponsor:||Rep. Davis, Susan A. [D-CA-53] (Introduced 05/25/2011)|
|Committees:||House - Ways and Means; Appropriations; Energy and Commerce|
|Latest Action:||06/03/2011 Referred to the Subcommittee on Health. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1988 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (05/25/2011)
Qualifying Therapeutic Discovery Project Tax Credit Extension Act of 2011 - Amends the Internal Revenue Code to extend for an additional five-year period the authority to invest in and allocate credit amounts for a qualifying therapeutic discovery project (a project that is designed to: (1) treat or prevent diseases by conducting pre-clinical activities, clinical trials, and clinical studies, or by carrying out research projects to approve new drugs or other biologic products; (2) diagnose diseases or conditions to determine molecular factors related to diseases or conditions; or (3) develop a product, process, or technology to further the delivery or administration of therapeutics).
Extends for an additional five-year period the authority of the Secretary of the Treasury to award grants for investment in a qualifying therapeutic discovery project in lieu of a tax credit and the funding for such grants.