,i #aacth ,,congress #ast ,session ,h4 ,r4 #cgeg ,,in ,,the ,,house ,,of ,,representatives ,december #ab1 #bjac,mr4 ,peters of ,california 7for himself1 ,mr4 ,honda1 ,ms4 ,del,bene1 ,mr4 ,murphy of ,florida1 and ,ms4 ,lofgren7 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 extend the research credit one year1 to increase and make permanent the alternative simplified research credit1 and to provide a #bj percent credit for payments to biotechnology research consortiums for biotechnology research4 #a4 ,short title ,this ,act may be cited as the ,igniting ,american ,research ,act4 #b4 #a-,year extension of research credit2 alternative simplified research credit increased and made permanent 7a7 #a-,year extension of credit 7#a7 ,in general ,subparagraph 7,b7 of section #da7;h77#a7 of the ,internal ,revenue ,code of #aihf is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7#b7 ,conforming amendment ,subparagraph 7,d7 of section #de;,c7b77#a7 of such ,code is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7#c7 ,effective date ,the amendments made by this subsection shall apply to amounts paid or incurred after ,december #ca1 #bjac4 7b7 ,alternative simplified research credit increased and made permanent 7#a7 ,increased credit ,subparagraph 7,a7 of section #da7;c77#e7 of such ,code 7relating to election of alternative simplified credit7 is amended by striking #ad percent 7#ab percent in the case of taxable years ending before ,january #a1 #bjji7 and inserting #bj percent4 7#b7 ,credit made permanent 7,a7 ,in general ,subsection 7h7 of section #da of such ,code is amended by redesignating the paragraph 7#b7 relating to computation of taxable year in which credit terminates as paragraph 7#d7 and by inserting before such paragraph the following new paragraph3 7#c7 ,termination not to apply to alternative simplified credit ,paragraph 7#a7 shall not apply to the credit determined under subsection 7c77#e74 4 7,b7 ,conforming amendment ,paragraph 7#d7 of section #da7;h7 of such ,code1 as redesignated by subparagraph 7,a71 is amended to read as follows3 7#d7 ,computation for taxable year in which credit terminates ,in the case of any taxable year with respect to which this section applies to a number of days which is less than the total number of days in such taxable year1 the amount determined under subsection 7c77#a77;,b7 with respect to such taxable year shall be the amount which bears the same ratio to such amount 7determined without regard to this paragraph7 as the number of days in such taxable year to which this section applies bears to the total number of days in such taxable year4 4 7#c7 ,effective date ,the amendments made by this subsection shall apply to taxable years ending after ,december #ca1 #bjac4 #c4 ,biotechnology research 7a7 #bj percent credit for payments to biotechnology research consortium for biotechnology research 7#a7 ,in general ,section #da7;a77#c7 of the ,internal ,revenue ,code of #aihf is amended by inserting or a biotechnology research consortium for biotechnology research before the period at the end4 7#b7 ,limitation ,section #da7;a7 of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following flush sentence3 ,the amounts taken into account for purposes of paragraph 7#c7 for a taxable year may not exceed the greater of #bj percent of the amounts paid or incurred by the taxpayer during the taxable year 7including as contributions7 to an energy research consortium for energy research or #bj percent of the amounts paid or incurred by the taxpayer during the taxable year 7including as contributions7 to a biotechnology research consortium for biotechnology research44 7b7 ,biotechnology contract research expenses ,section #da7;b77#c77;,d77i7 of the ,internal ,revenue ,code of #aihf is amended by striking energy research and inserting energy or biotechnology research4 7c7 ,special rules ,subparagraphs 7,a77ii7 and 7,b77ii7 of section #da7;f77#a7 of the ,internal ,revenue ,code of #aihf are both amended by striking consortiums1 and inserting consortiums and to biotechnology research consortiums14 7d7 ,biotechnology research consortium defined ,section #da7;f7 of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new paragraph3 7#g7 ,biotechnology research consortium 7,a7 ,in general ,the term biotechnology research consortium means any organization-- 7i7 which is-- 7,i7 described in section #eja7;c77#c7 and is exempt from tax under section #eja7;a7 and is organized and operated primarily to conduct biotechnology research1 or 7,,ii7 organized and operated primarily to conduct biotechnology research in the public interest 7within the meaning of section #eja7;c77#c771 7ii7 which is not a private foundation1 7iii7 to which at least #c unrelated persons paid or incurred during the calendar year in which the taxable year of the organization begins amounts 7including as contributions7 to such organization for biotechnology research1 and 7iv7 to which no single person paid or incurred 7including as contributions7 during such calendar year an amount equal to more than #ej percent of the total amounts received by such organization during such calendar year for biotechnology research4 7,b7 ,applicable rules ,for purposes of subparagraph 7,a71 rules similar to the rules of subparagraphs 7,b71 7,c7 7applied by substituting biotechnology for research71 and 7,d7 of paragraph 7#f7 shall apply4 7,c7 ,biotechnology research ,the term biotechnology research does not include-- 7i7 any research which is not qualified research1 and 7ii7 any research which is energy research4 4 7e7 ,energy research consortium ,section #da7;f77,a77iii7 of the ,internal ,revenue ,code of #aihf is amended by striking #e unrelated persons and inserting #c unrelated persons4 7f7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4