Summary: H.R.5520 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.5520. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (12/19/2019)

Research and Development Tax Credit Expansion Act of 2019

This bill modifies the refundable research tax credit for new and small businesses to (1) increase the limit on refundability to $500,000, with an adjustment for inflation; (2) allow refundable amounts to cover all payroll taxes paid by such businesses; and (3) extend eligibility for the credit to small businesses with less than $10 million in gross receipts (currently, less than $5 million).

The bill also increases the rate of the alternative simplified tax credit for such businesses.