REACH Act of 2016

Bill: 114-hr-5187
Sponsor: full_name: Rep. Tiberi, Patrick J. [R-OH-12]
Introduced: 2016-05-10
Policy area: Taxation
Subjects: Business expenses

Income tax credits

Research and development
Latest action: action_date: 2016-05-10
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2016-05-10
action_desc: Introduced in House
text: <p><b>Research and Experimentation Advances Competitiveness at Home Act of 2016 or the REACH Act of 2016 </b></p> <p>This bill amends the Internal Revenue Code to increase the alternative simplified tax credit for research expenses to 20% from the existing rate of 14% (12% for years ending before January 1, 2009). </p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5187 IN THE HOUSE OF REPRESENTATIVES May 10, 2016 Mr. Tiberi (for himself and Mr. Larson of Connecticut ) 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 increase the alternative simplified credit for research expenses.

1. Short title This Act may be cited as the Research and Experimentation Advances Competitiveness at Home Act of 2016 or as the REACH Act of 2016 . 2. Increase in alternative simplified credit for research expenses (a) In general Section 41(c)(5)(A) of the Internal Revenue Code of 1986 is amended by striking 14 percent (12 percent in the case of taxable years ending before January 1, 2009) and inserting 20 percent . (b) Effective date The amendment made this section shall apply to taxable years beginning after December 31, 2015.