This bill, called "Cameron's Law," changes the Internal Revenue Code to increase the orphan drug tax credit rate. It replaces the current 25 percent rate in section 45C(a) with a 50 percent rate. The change applies to taxable years beginning after the date the bill is enacted.
If you are a taxpayer who claims the orphan drug tax credit, the percentage used to compute that credit would increase from 25% to 50% for qualifying taxable years after this law takes effect. The bill text does not describe which specific expenses qualify or how claims are filed.
No publicly available information on estimated federal costs, budget effects, or appropriations is included in the bill text provided.
No publicly available information in the bill text describes proponents' arguments. The bill was introduced by Representatives Josh Gottheimer, Don Bacon, Jimmy Panetta, Thomas Suozzi, and others.
No publicly available information in the bill text describes opponents' arguments.