,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #cdgc  ,,in ,,the ,,house ,,of  
,,representatives  ,november #ac1       
#bjac,mrs4 ,davis of ,california 7for   
herself1 ,ms4 ,schwartz1 ,mr4 ,vargas1  
,mr4 ,carson of ,indiana1 and ,mr4      
,connolly7 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 permanently extend   
the qualifying therapeutic discovery    
project credit1 and for other purposes4 
#a4 ,short title ,this ,act may be cited
 as the ,qualifying ,therapeutic        
,discovery ,project ,tax ,credit        
,extension ,act of #bjac4  #b4          
,permanent extension of qualifying      
therapeutic discovery project credit    
7a7 ,in general ,subsection 7b7 of      
section #dh;,d of the ,internal ,revenue
 ,code of #aihf is amended by striking  
paragraph 7#e74  7b7 ,allocation        
limitation  7#a7 ,in general            
,subparagraph 7,b7 of section           

#dh;,d7d77#a7 of such ,code is amended  
by striking #a1jjj1jjj1jjj for the      
#b-year period beginning with #bjji4 and
 inserting the following3               
#a1jjj1jjj1jjj-- 7i7 for the #b-year    
period beginning with #bjji1 and  7ii7  
for each #b-year period beginning after 
#bjac4  4  7#b7 ,inflation adjustment   
,subsection 7d7 of section #dh;,d of    
such ,code is amended by adding at the  
end the following new paragraph3  7#e7  
,inflation adjustment ,in the case of   
any allocations for any #b-year period  
beginning after #bjae1 the              
#a1jjj1jjj1jjj amount contained in      
paragraph 7#a77;,b7 shall be increased  
by an amount equal to-- 7,a7 such dollar
 amount1 multiplied by  7,b7 the        
cost-of-living adjustment determined    
under section #a7;f77#c7 for the first  
calendar year in such #b-year period1   
determined by substituting calendar year
 #bjad for calendar year #aiib in       
subparagraph 7,b7 thereof4  ,any        
increase determined under the preceding 

sentence shall be rounded to the next   
lowest multiple of #aj1jjj1jjj4  4  7c7 
,effective date ,the amendments made by 
this section shall apply to amounts paid
 or incurred in taxable years beginning 
after ,december #ca1 #bjac4