Summary: H.R.4438 — 113th Congress (2013-2014)All Information (Except Text)

Bill summaries are authored by CRS.

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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.