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Tax Credits for Neurodegenerative and Psychiatric Research

This act introduces new tax credits for companies and organizations conducting research on neurodegenerative diseases and psychiatric conditions. The goal is to accelerate the development of new treatments and therapies, potentially improving access to care and quality of life for affected individuals.
Key points
Businesses and organizations can receive a 25% tax credit for expenses related to neurodegenerative and psychiatric research.
The government will allocate billions of dollars for these credits from 2024-2029, prioritizing projects with high scientific merit.
Tax credits can be transferred between non-profit entities and their project partners, facilitating collaboration.
The act aims to support the development of new therapeutics and devices, as well as the repurposing of existing drugs for new uses.
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Additional Information
Print number: 118_HR_5821
Sponsor: Rep. Thompson, Mike [D-CA-4]
Process start date: 2023-09-28
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Mental Health Research Accelerator Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5821.

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 2023-09-28.

What are the main provisions?

Key points include:

  • Businesses and organizations can receive a 25% tax credit for expenses related to neurodegenerative and psychiatric research.
  • The government will allocate billions of dollars for these credits from 2024-2029, prioritizing projects with high scientific merit.
  • Tax credits can be transferred between non-profit entities and their project partners, facilitating collaboration.
  • The act aims to support the development of new therapeutics and devices, as well as the repurposing of existing drugs for new uses.
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. Thompson, Mike [D-CA-4].

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.

CATEGORIES

Health Taxes