Cameron’s Law

Bill: 119-hr-1414
Sponsor: full_name: Rep. Gottheimer, Josh [D-NJ-5]
Introduced: 2025-02-18
Policy area: Taxation
Latest action: action_date: 2025-02-18
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2025-02-18
action_desc: Introduced in House
text: <p><strong>Cameron's Law</strong></p><p>This bill increases the orphan drug tax credit to 50% (from 25%) of qualified clinical testing expenses paid or incurred in the development of drugs to treat certain rare diseases or conditions.</p><p>As background, the Tax Cuts and Jobs Act reduced the orphan drug tax credit (for tax years after 2017) to 25% of qualified clinical testing&nbsp;expenses (e.g., wages, supplies, and certain contract expenses) paid or incurred in the development of drugs to treat certain rare diseases or conditions. For 2017 and prior tax years, the orphan tax credit was 50% of such expenses paid or incurred.</p>

tv_txt: I 119th CONGRESS 1st Session H. R. 1414 IN THE HOUSE OF REPRESENTATIVES February 18, 2025 Mr. Gottheimer (for himself, Mr. Bacon , Mr. Panetta , and Mr. Suozzi ) 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 restore the amount of the orphan drug tax credit.

1. Short title This Act may be cited as Cameron’s Law . 2. Restoration of amount of orphan drug tax credit (a) In general Section 45C(a) of the Internal Revenue Code of 1986 is amended by striking 25 percent and inserting 50 percent . (b) Effective date The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.