I 
117TH CONGRESS 
2D SESSION 
H. R. 7279 
To amend the Internal Revenue Code of 1986 to provide for a credit against 
tax for expenses for translational research regarding neurodegenerative 
diseases and psychiatric conditions. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 29, 2022 
Mr. THOMPSON of California (for himself and Mr. KELLY of Pennsylvania) 
introduced the following bill; which was referred to the Committee on 
Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to provide 
for a credit against tax for expenses for translational 
research regarding neurodegenerative diseases and psy-
chiatric conditions. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Mental Health Re-
search Accelerator Act of 2022’’. 
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SEC. 2. EXPENSES FOR CERTAIN TRANSLATIONAL RE-
SEARCH. 
(a) IN GENERAL.—Subpart D of part IV of sub-
chapter A of chapter 1 of the Internal Revenue Code of 
1986 is amended by adding at the end the following new 
section: 
‘‘SEC. 45U. EXPENSES FOR CERTAIN TRANSLATIONAL RE-
SEARCH. 
‘‘(a) ALLOWANCE OF CREDIT.—For purposes of sec-
tion 38, the translational research credit determined under 
this section for any taxable year shall be an amount equal 
to 25 percent of the amounts paid or incurred by such 
taxpayer during such taxable year which are necessary for 
translational research regarding neurodegenerative dis-
eases and psychiatric conditions. 
‘‘(b) LIMITATION.— 
‘‘(1) TAXPAYER
LIMITATION.—The credit al-
lowed under this section to a taxpayer for a taxable 
year beginning in any calendar year shall not exceed 
the portion of the limitation amount allocated to the 
taxpayer under this subsection reduced by the 
amount of credit allowed to the taxpayer under this 
section for all prior taxable years. 
‘‘(2) AGGREGATE NATIONAL LIMITATION.— 
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‘‘(A) 
IN
GENERAL.—There 
is 
a 
translational research credit limitation for each 
calendar year as follows: 
‘‘(i) $1,000,000,000 for 2022. 
‘‘(ii) $2,000,000,000 for each of years 
2023 through 2027. 
‘‘(iii) $1,000,000,000 for 2028. 
‘‘(B) ALLOCATION
OF
LIMITATION.—As 
expeditiously as possible, the Secretary shall al-
locate among applicants selected by the Sec-
retary the limitation under paragraph (2) for 
all years. 
‘‘(C) REGULATIONS.—The Secretary shall 
prescribe regulations as may be necessary to 
carry out the purposes of this section, including 
establishing the application process and the cri-
teria for allocation under the preceding sen-
tence. Such regulations shall include the fol-
lowing: 
‘‘(i) Amounts shall be allocated based 
on scientific merit. 
‘‘(ii) 
Projects 
should 
include 
all 
phases of the research continuum. 
‘‘(iii) An emphasis on new thera-
peutics and devices targeted at central 
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nervous system disorders and in the neuro-
logical and psychiatric fields. 
‘‘(iv) Standards for repurposing exist-
ing drugs and devices for new purposes. 
‘‘(v) Standards for public-private part-
nerships with priority given to collaborative 
efforts and sharing of intellectual property. 
‘‘(c) TRANSFER OF CREDIT.— 
‘‘(1) IN GENERAL.—If, with respect to a credit 
under subsection (a) for any taxable year— 
‘‘(A) a tax-exempt entity would be the tax-
payer (but for this paragraph), and 
‘‘(B) such entity elects the application of 
this paragraph for such taxable year with re-
spect to all (or any portion specified in such 
election) of such credit, 
the eligible project partner specified in such election, 
and not the tax-exempt entity, shall be treated as 
the taxpayer for purposes of this title with respect 
to such credit (or such portion thereof). 
‘‘(2) DEFINITIONS.—For purposes of this sub-
section— 
‘‘(A) TAX-EXEMPT
ENTITY.—The term 
‘tax-exempt entity’ means— 
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