Bill > HR4573

This bill amends the Internal Revenue Code to provide a new tax credit for small businesses conducting research related to mitigating drug threats. Specifically, the bill creates a 10% tax credit for qualified drug threat mitigation research expenses, which are defined as research aimed at discovering ways to mitigate, treat, or prevent the use of specific drugs, including emerging drugs, fentanyl, fentanyl-related substances, and methamphetamine. The research must comply with National Institutes of Health clinical research guidelines and cannot include clinical research that does not meet these standards. The bill provides detailed technical definitions for what constitutes a "fentanyl-related substance" and an "emerging drug," drawing on existing federal drug policy classifications. After five years, the Government Accountability Office (GAO) is required to submit a confidential report to Congress detailing the tax credits claimed and the types of research conducted under this provision. The tax credit will apply to taxable years beginning after the date of the bill's enactment, with the goal of incentivizing small businesses to engage in research that could help address serious drug-related public health challenges.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4573/all-info