Bill
Bill > HR4549
summary
Introduced
09/27/2019
09/27/2019
In Committee
09/27/2019
09/27/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Internal Revenue Code of 1986 to restore the deduction for research and experimental expenditures. 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.
AI Summary
This bill, the American Innovation and Competitiveness Act of 2019 (AICA Act of 2019), amends the Internal Revenue Code to restore the deduction for research and experimental expenditures. It eliminates the five-year amortization requirement for such expenditures that was scheduled to begin in 2022, allowing companies to continue expensing these costs in the taxable years in which they are incurred. This change is intended to support innovation and competitiveness by enabling businesses to deduct their research and development expenses immediately rather than having to spread them out over a five-year period.
Committee Categories
Budget and Finance
Sponsors (36)
John Larson (D)*,
Jodey Arrington (R),
Andy Biggs (R),
Earl Blumenauer (D),
Suzanne Bonamici (D),
Brendan Boyle (D),
Ken Buck (R),
John Curtis (R),
Danny Davis (D),
Suzan DelBene (D),
Ron Estes (R),
Brian Fitzpatrick (R),
Bill Foster (D),
Vicky Hartzler (R),
Kevin Hern (R),
George Holding (R),
Mike Kelly (R),
Ron Kind (D),
Darin LaHood (R),
Carol Miller (R),
Joe Morelle (D),
Pete Olson (R),
Jimmy Panetta (D),
Greg Pence (R),
Tom Reed (R),
Harley Rouda (D),
Bobby Rush (D),
Tim Ryan (D),
Linda Sánchez (D),
Terri Sewell (D),
Mikie Sherrill (D),
Jason Smith (R),
Tom Suozzi (D),
Bennie Thompson (D),
Jackie Walorski (R),
Brad Wenstrup (R),
Last Action
Referred to the House Committee on Ways and Means. (on 09/27/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/4549/all-info | 09/28/2019 |
| BillText | https://www.congress.gov/116/bills/hr4549/BILLS-116hr4549ih.pdf | 10/09/2019 |
| Bill | https://www.congress.gov/116/bills/hr4549/BILLS-116hr4549ih.pdf.pdf | 10/09/2019 |
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