,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #geef  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #i1 #bjbj,mr4   
,nunes introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to make a portion (      
rese>* cr$it refundable = c]ta9 small   
bus9esses engag+ 9 specifi$ m$ical      
rese>*4  #a4 ,refundable portion (      
rese>* cr$it = small bus9esses engag+ 9 
specifi$ m$ical rese>*  7a7 ,9 g5]al    
,section #da ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$ by add+ at ! end !     
foll[+ new subsection3  7i7 ,refundable 
portion = small bus9esses engag+ 9      
specifi$ m$ical rese>*  7#a7 ,9 g5]al   
,at ! election ( a m$ical rese>* small  
bus9ess1 ! portion ( ! cr$it det]m9$ "u 
?is section = ! taxable ye> :i* is      
prop]ly allocable to specifi$ m$ical    
rese>* %all be treat$ 7o!r ?an =        
purposes ( section #bhj;,c7 z a cr$it   
all[$ "u subp>t ,c 7& n ?is subp>t74    
7#b7 ,m$ical rese>* small bus9ess ,=    

purposes ( ?is subsection1 ! t]m m$ical 
rese>* small bus9ess means any dome/ic  
,c corporation-- 7,a7 :i* conducts any  
specifi$ m$ical rese>* dur+ ! taxable   
ye>1 &  7,b7 ! gross receipts ( :i*     
7det]m9$ "u ! rules ( subsection 7c77 = 
! taxable ye> d n exce$ #a1jjj1jjj4     
7#c7 ,specifi$ m$ical rese>* ,= purposes
 ( ?is subsection1 ! t]m specifi$ m$ical
 rese>* means any qualifi$ rese>* )     
respect to qualifi$ c\nt]measures 7z    
def9$ 9 section #cai;,f-#a7;a77#b7 ( !  
,public ,heal? ,s]vice ,act 7#db        
,u4,s4,c4 #bdg;d-#f;a7a77#b774  7#d7    
,election ,any election "u ?is          
subsection = any taxable ye>-- 7,a7 %all
 specify ! am\nt ( ! cr$it to :i* su*   
election applies1  7,b7 %all be made on 
or be=e ! due date 7includ+ ext5sions7 (
 ! return ( tax = ! taxable ye>1  7,c7  
may n be made = any taxable ye> )       
respect to any portion ( ! cr$it det]m9$
 "u ?is section ) respect to :i* an     
election is made "u subsection 7h71 &   
7,d7 may be revok$ only ) ! cons5t ( !  

,secret>y4  7#e7 ,regulations ,!        
,secret>y %all prescribe su* regulations
 = purposes ( ?is subsection z may be   
necess>y or appropriate = det]m9+ prop] 
allocation to specifi$ m$ical rese>* ( !
 portion ( any cr$it all[$ to a taxpay] 
= a taxable ye> "u ?is section4  4  7b7 
,con=m+ am5dm5t ,section #acbd7;b7 (    
title #ca1 ,unit$ ,/ates ,code1 is am5d$
 by ins]t+ #da7;i71 aft] #fdbh14  7c7   
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjbj4