Bill Summary & Status for the 106th Congress

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S.1425
Sponsor: Sen Specter, Arlen (introduced 7/22/1999)
Latest Major Action: 7/28/1999 Senate floor actions
Title: A bill to amend the Internal Revenue Code of 1986 to provide a 10 percent biotechnology investment tax credit and to reauthorize the Research and Development tax credit for ten years.
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TITLE(S):  (italics indicate a title for a portion of a bill)
STATUS: (color indicates Senate actions) (Floor Actions/Congressional Record Page References)
7/22/1999:
Read twice and referred to the Committee on Finance.
7/28/1999:
Proposed amendment SP 1397 withdrawn in Senate.
COMMITTEE(S):
RELATED BILL DETAILS:

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AMENDMENT(S):

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COSPONSOR(S):

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SUMMARY AS OF:
7/22/1999--Introduced.

Biotechnology Tax Credit Act of 1999 - Amends the Internal Revenue Code to: (1) extend the credit for increasing research activities until June 30, 2009; and (2) establish a biotechnology investment credit equal to ten percent of the annual qualified investment.