House Bill 1304
117th Congress(2021-2022)
American Innovation and R&D Competitiveness Act of 2021
Introduced
Introduced in House on Feb 24, 2021
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
1304
Congress
117
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.
No House votes have been held for this bill.
Summary
American Innovation and R&D Competitiveness Act of 2021
This bill eliminates the five-year amortization requirement for research and experimental expenditures scheduled to begin in 2022, thus allowing continued expensing of such expenditures in the taxable years in which they are incurred.
February 24, 2021
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02/24/2021
Referred to the House Committee on Ways and Means.
02/24/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:47:09 PM