,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #cfdj  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,decemb] #c1 #bjac,ms4
 ,br[nley ( ,cali=nia introduc$ ! foll[+
 bill2 :i* 0 ref]r$ to ! ,committee on  
,ways & ,means  ,a ,,bill  ,to am5d !   
,int]nal ,rev5ue ,code ( #aihf to       
increase & make p]man5t ! rese>* cr$it4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,innovation1 ,rese>*1 & ,manufactur+  
,act4  #b4 ,rese>* cr$it increas$ & made
 p]man5t  7a7 ,cr$it am\nt increas$ by  
#ej p]c5t ,p>agraphs 7#a71 7#b71 & 7#c7 
( section #da7;a7 ( ! ,int]nal ,rev5ue  
,code ( #aihf are ea* am5d$ by /rik+ #bj
 p]c5t & ins]t+ #cj p]c5t4  7b7 ,cr$it  
made p]man5t  7#a7 ,9 g5]al ,section #da
 ( su* ,code is am5d$ by /rik+          
subsection 7h74  7#b7 ,con=m+ am5dm5ts  
7,a7 ,subsection 7c7 ( section #da ( su*
 ,code is am5d$ by /rik+ p>agraph 7#d74 
7,b7 ,p>agraph 7#a7 ( section #de;,c7b7 
( su* ,code is am5d$ by /rik+           
subp>agraph 7,d74  7c7 ,cr$it all[$     
aga9/ payroll taxes = small employ]s    

,section #da ( su* ,code1 z am5d$ by    
subsection 7b71 is am5d$ by add+ at !   
end ! foll[+ new subsection3  7h7 ,cr$it
 all[$ aga9/ payroll taxes = small      
employ]s  7#a7 ,9 g5]al ,9 ! case ( an  
eligible small employ]1 s mu* ( ! cr$it 
det]m9$ "u subsection 7a7 = ! taxable   
ye> 7det]m9$ )\t reg>d to ?is           
subsection7 z does n exce$ ! payroll    
taxes paid by su* employ] = p]iods dur+ 
su* taxable ye> %all be treat$ =        
purposes ( ?is title z a cr$it all[$ "u 
subp>t ,c4  7#b7 ,coord9ation ) rese>*  
cr$it ,! am\nt det]m9$ "u subsection 7a7
 = any taxable ye> %all be r$uc$ by !   
am\nt treat$ "u p>agraph 7#a7 z a cr$it 
all[$ "u subp>t ,c4  7#c7 ,eligible     
small employ] ,= purposes ( ?is         
subsection1 ! t]m eligible small employ]
 means a small bus9ess conc]n )9 ! mean+
 ( section #c ( ! ,small ,bus9ess ,act4 
7#d7 ,payroll taxes ,= purposes ( ?is   
subsection1 ! t]m payroll taxes means-- 
7,a7 any tax impos$ "u section #caaa or 
#cbba7;a71  7,b7 s mu* ( any tax impos$ 

"u section #cbaa7;a7 z relates to !     
rates ( tax "u subsections 7a7 & 7b7 (  
section #caaa1 &  7,c7 #ej p]c5t ( any  
tax impos$ "u section #adja4  4  7d7    
,effective dates  7#a7 ,9 g5]al ,except 
z provid$ 9 p>agraph 7#b71 ! am5dm5ts   
made by ?is section %all apply to       
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjac4  7#b7 ,ext5sion ( cr$it ,!       
am5dm5ts made by subsection 7b7 %all    
apply to am\nts paid or incurr$ aft]    
,decemb] #ca1 #bjac4