The bill would create a 10% tax credit for qualified research expenses incurred by small businesses researching ways to mitigate or treat the effects of emerging drugs, fentanyl, fentanyl-related substances, or methamphetamine. It would also cover research aimed at preventing, diverting, or intervening in the use of those drugs. Clinical research must follow National Institutes of Health policies and guidelines. Five years after enactment, the Comptroller General would report to Congress on the credits claimed and the types of research supported, using anonymous data. The bill was introduced and referred to the House Committee on Ways and Means.
A small business conducting qualifying research could claim a credit equal to 10% of its qualified expenses for that research. The bill does not describe a direct benefit for individuals.
The credit would equal 10% of qualified research expenses. No publicly available information gives an estimate of the total tax credits or their cost.
No publicly available information.
No publicly available information.