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•AMDT. NO. 2786 
character subject to an allowance for depreciation, 
rules similar to the rules of subsections (c)(4) and 
(d) of section 46 (as in effect on the day before the 
date of the enactment of the Revenue Reconciliation 
Act of 1990) shall apply for purposes of this section. 
‘‘(5) APPLICATION OF SUBSECTION.—An invest-
ment shall be considered a qualified investment 
under this subsection only if such investment is 
made in a taxable year beginning in 2009 or 2010. 
‘‘(c) DEFINITIONS.— 
‘‘(1) QUALIFYING
THERAPEUTIC
DISCOVERY 
PROJECT.—The term ‘qualifying therapeutic dis-
covery project’ means a project which is designed— 
‘‘(A) to treat or prevent diseases or condi-
tions by conducting pre-clinical activities, clin-
ical trials, and clinical studies, or carrying out 
research protocols, for the purpose of securing 
approval of a product under section 505(b) of 
the Federal Food, Drug, and Cosmetic Act or 
section 351(a) of the Public Health Service Act, 
‘‘(B) to diagnose diseases or conditions or 
to determine molecular factors related to dis-
eases or conditions by developing molecular 
diagnostics to guide therapeutic decisions, or 
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•AMDT. NO. 2786 
‘‘(C) to develop a product, process, or tech-
nology to further the delivery or administration 
of therapeutics. 
‘‘(2) ELIGIBLE TAXPAYER.— 
‘‘(A) IN GENERAL.—The term ‘eligible tax-
payer’ means a taxpayer which employs not 
more than 250 employees in all businesses of 
the taxpayer at the time of the submission of 
the application under subsection (d)(2). 
‘‘(B) AGGREGATION
RULES.—All persons 
treated as a single employer under subsection 
(a) or (b) of section 52, or subsection (m) or 
(o) of section 414, shall be so treated for pur-
poses of this paragraph. 
‘‘(3) FACILITY MAINTENANCE EXPENSES.—The 
term ‘facility maintenance expenses’ means costs 
paid or incurred to maintain a facility, including— 
‘‘(A) mortgage or rent payments, 
‘‘(B) insurance payments, 
‘‘(C) utility and maintenance costs, and 
‘‘(D) costs of employment of maintenance 
personnel. 
‘‘(d) 
QUALIFYING
THERAPEUTIC
DISCOVERY 
PROJECT PROGRAM.— 
‘‘(1) ESTABLISHMENT.— 
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•AMDT. NO. 2786 
‘‘(A) IN
GENERAL.—Not later than 60 
days after the date of the enactment of this sec-
tion, the Secretary, in consultation with the 
Secretary of Health and Human Services, shall 
establish a qualifying therapeutic discovery 
project program to consider and award certifi-
cations for qualified investments eligible for 
credits under this section to qualifying thera-
peutic discovery project sponsors. 
‘‘(B) LIMITATION.—The total amount of 
credits that may be allocated under the pro-
gram shall not exceed $1,000,000,000 for the 
2-year period beginning with 2009. 
‘‘(2) CERTIFICATION.— 
‘‘(A) APPLICATION PERIOD.—Each appli-
cant for certification under this paragraph shall 
submit an application containing such informa-
tion as the Secretary may require during the 
period beginning on the date the Secretary es-
tablishes the program under paragraph (1). 
‘‘(B) TIME
FOR
REVIEW
OF
APPLICA-
TIONS.—The Secretary shall take action to ap-
prove or deny any application under subpara-
graph (A) within 30 days of the submission of 
such application. 
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•AMDT. NO. 2786 
‘‘(C) MULTI-YEAR APPLICATIONS.—An ap-
plication for certification under subparagraph 
(A) may include a request for an allocation of 
credits for more than 1 of the years described 
in paragraph (1)(B). 
‘‘(3) SELECTION
CRITERIA.—In determining 
the qualifying therapeutic discovery projects with re-
spect to which qualified investments may be certified 
under this section, the Secretary— 
‘‘(A) shall take into consideration only 
those projects that show reasonable potential— 
‘‘(i) to result in new therapies— 
‘‘(I) to treat areas of unmet med-
ical need, or 
‘‘(II) to prevent, detect, or treat 
chronic or acute diseases and condi-
tions, 
‘‘(ii) to reduce long-term health care 
costs in the United States, or 
‘‘(iii) to significantly advance the goal 
of curing cancer within the 30-year period 
beginning on the date the Secretary estab-
lishes the program under paragraph (1), 
and 
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•AMDT. NO. 2786 
‘‘(B) shall take into consideration which 
projects have the greatest potential— 
‘‘(i) to create and sustain (directly or 
indirectly) high quality, high-paying jobs in 
the United States, and 
‘‘(ii) to advance United States com-
petitiveness in the fields of life, biological, 
and medical sciences. 
‘‘(4) DISCLOSURE OF ALLOCATIONS.—The Sec-
retary shall, upon making a certification under this 
subsection, publicly disclose the identity of the appli-
cant and the amount of the credit with respect to 
such applicant. 
‘‘(e) SPECIAL RULES.— 
‘‘(1) BASIS
ADJUSTMENT.—For purposes of 
this subtitle, if a credit is allowed under this section 
for an expenditure related to property of a character 
subject to an allowance for depreciation, the basis of 
such property shall be reduced by the amount of 
such credit. 
‘‘(2) DENIAL OF DOUBLE BENEFIT.— 
‘‘(A) BONUS
DEPRECIATION.—A credit 
shall not be allowed under this section for any 
investment for which bonus depreciation is al-
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