H.R. 1304 · 117th Congress
American Innovation and R&D Competitiveness Act of 2021
- Stage
- In committee
- Sponsor
- John Larson
- Introduced
- 2021-02-24
- Latest action
- 2021-02-24 · Introduced in House
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.