Bill > HR3945

This bill, titled "To amend the Internal Revenue Code of 1986 to extend for one year the business research credit," proposes to extend the availability of the business research credit, which is a tax incentive designed to encourage companies to invest in research and development. Specifically, the bill amends Section 41(h)(1)(B) and Section 45C(b)(1)(D) of the Internal Revenue Code of 1986 by changing the expiration date of this credit from December 31, 2013, to December 31, 2014, meaning that businesses can continue to claim this credit for research expenses incurred during that extended period. The amendments are effective for amounts paid or incurred after December 31, 2013.