H.R.4438 - American Research and Competitiveness Act of 2014113th Congress (2013-2014)
|Sponsor:||Rep. Brady, Kevin [R-TX-8] (Introduced 04/09/2014)|
|Committees:||House - Ways and Means|
|Committee Reports:||H. Rept. 113-431|
|Latest Action:||05/12/2014 Received in the Senate.|
|Major Recorded Votes:||05/09/2014 : Passed House|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.4438 — 113th Congress (2013-2014)All Bill Information (Except Text)
Passed House amended (05/09/2014)
American Research and Competitiveness Act of 2014 - Amends the Internal Revenue Code to establish a permanent research tax credit that allows for: (1) 20% of the qualified or basic research expenses that exceed 50% of the average qualified or basic research expenses for the 3 preceding taxable years, and (2) 20% of amounts paid to an energy research consortium for energy research. Reduces such credit rate to 10% if a taxpayer has no qualified research expenses in any one of the 3 preceding taxable years.
Prohibits the entry of the budgetary effects of this Act on any PAYGO scorecard.