House Bill 2821
115th Congress(2017-2018)
REACH Act
Introduced
Introduced in House on Jun 7, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2821
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Pat Tiberi
grade
Ohio
Arizona
California
Connecticut
Iowa
Kansas
Michigan
Minnesota
Missouri
Oregon
Oregon
Pennsylvania
Texas
Washington
Wisconsin
No House votes have been held for this bill.
Summary
Research and Experimentation Advances Competitiveness at Home Act or the REACH Act
This bill amends the Internal Revenue Code, with respect to the tax credit for increasing research activities (known as the research and experimentation tax credit), to:
- increase the alternative simplified credit rate to match the rate of the regular credit;
- allow taxpayers to use reasonable estimation techniques in lieu of contemporaneous accounting to measure employee hours per business component;
- allow employees engaging in the direct supervision or direct support of research activities which constitute qualified research to be included in the research expense calculation without regard to the employee's position or management level;
- allow the credit to be used for research related to the adaptation of an existing business component to a particular customer's requirement or need, cost reduction, or obsolescence mitigation; and
- allow taxpayers to make an election for a reduced credit (in order to be allowed a full deduction for research expenses) on an amended tax return.
June 7, 2017
06/07/2017
Referred to the House Committee on Ways and Means.
06/07/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:37:53 PM