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Refundable Tax Credit for Small Medical Research Businesses

New rules allow small businesses conducting medical research to receive a refundable portion of their research tax credit. This aims to support the development of new medicines and treatments, potentially accelerating access to innovative healthcare solutions for citizens.
Key points
Small businesses engaged in medical research can get a refundable portion of their research expenses as a tax credit.
This applies to companies with annual gross receipts up to $1 million that conduct research on public health countermeasures.
The changes are effective for tax years beginning after December 31, 2022, potentially encouraging more investment in medical innovation.
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Status:
Expired
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Additional Information
Print number: 118_HR_5206
Sponsor: Rep. Buchanan, Vern [R-FL-16]
Process start date: 2023-08-15
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to make a portion of research credit refundable for certain small businesses engaging in specified medical research.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5206.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-08-15.

What are the main provisions?

Key points include:

  • Small businesses engaged in medical research can get a refundable portion of their research expenses as a tax credit.
  • This applies to companies with annual gross receipts up to $1 million that conduct research on public health countermeasures.
  • The changes are effective for tax years beginning after December 31, 2022, potentially encouraging more investment in medical innovation.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Buchanan, Vern [R-FL-16].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Health Economy