,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #abj  ,,in ,,the ,,house ,,of   
,,representatives  ,january #c1 #bjac   
,mr4 ,holt introduced the following     
bill2 which was referred to the         
,committee on ,ways and ,means  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to increase the credit  
for research expenses for #bjac and     
#bjad and to allow the credit to be     
assigned4  #a4 ,short title ,this ,act  
may be cited as the ,create ,jobs by    
,expanding the ,r,d ,tax ,credit ,act of
 #bjac4  #b4 ,increase in research      
expenses taken into account for the     
research credit  7a7 ,in general        
,section #da of the ,internal ,revenue  
,code of #aihf is amended by            
redesignating subsection 7h7 as         
subsection 7i7 and by inserting after   
subsection 7g7 the following new        
subsection3  7h7 ,temporary ,bonus for  
,qualifying ,research ,expenses ,in the 
case of any taxable year beginning in   
#bjac or #bjad--  7#a7 subsection       

7a77#a7 shall be applied by substituting
 #cj percent for #bj percent1  7#b7     
subsection 7c77#e77;,a7 shall be applied
 by substituting #bj percent for #ad    
percent1 and  7#c7 subsection           
7c77#e77;,b77ii7 shall be applied by    
substituting #ab percent for #f percent4
  4  7b7 ,extension of credit           
,subparagraph 7,b7 of section           
#da7;i77#a7 of such ,code1 as           
redesignated by subsection 7a71 is      
amended by striking ,december #ca1 #bjaa
 and inserting ,december #ca1 #bjad4    
7c7 ,effective date ,the amendments made
 by this section shall apply to taxable 
years beginning after ,december #ca1    
#bjab4  #c4 ,transferability of research
 credit  7a7 ,in general ,section #da of
 the ,internal ,revenue ,code of #aihf1 
as amended by section #b1 is amended by 
redesignating subsection 7i7 as         
subsection 7j7 and by inserting after   
subsection 7h7 the following new        
subsection3  7i7 ,credit ,may ,be       
,assigned  7#a7 ,in general ,if1 for any

 taxable year beginning in #bjac or     
#bjad1 a qualified taxpayer elects the  
application of this subsection for such 
taxable year1 the amount of credit      
determined under this section for such  
year which would 7but for this          
subsection7 be allowable to the         
qualified taxpayer shall be allowable to
 the person designated by the qualified 
taxpayer4 ,such amount shall be         
determined by applying this section     
separately from section #ch for such    
year4 ,the person so designated shall be
 treated as the taxpayer with respect to
 this section 7other than this          
subsection7 for purposes of this title  
7other than this paragraph74  7#b7      
,treatment of amounts paid for          
assignment ,if any amount is paid to the
 person who assigns the credit          
determined under this section1 no       
portion of such amount shall be         
includible in such person's gross       
income4  7#c7 ,qualified taxpayer ,the  
term qualified taxpayer means1 with     

respect to any taxable year1 any small  
business concern 7as defined in section 
#c of the ,small ,business ,act7 if such
 concern employs an average of fewer    
than #ejj employees on business days    
during such year4  4  7b7 ,effective    
date ,the amendments made by this       
section shall apply to taxable years    
beginning after ,december #ca1 #bjab4