Bill > HR7279

This bill, the Mental Health Research Accelerator Act of 2022, would provide a 25% tax credit to taxpayers for expenses incurred in translational research related to neurodegenerative diseases and psychiatric conditions. The bill sets an annual national limitation on the total amount of the credit, allocating it to applicants based on scientific merit, with an emphasis on new therapies and devices targeting central nervous system disorders. The bill also allows tax-exempt entities to transfer the credit to eligible project partners. The credit would be part of the general business credit and terminate for taxable years beginning after December 31, 2032.