HR 7917
IGNITE American Innovation Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The IGNITE American Innovation Act aims to support businesses, particularly C corporations, impacted by the COVID-19 pandemic. It allows these companies to receive advance refunds of net operating losses and research credits related to COVID-19 research expenditures from 2015-2021. The bill also expands the research tax credit for COVID-19 research conducted between February 15, 2020, and January 1, 2022. Finally, it provides for advance refunds of certain business credits and incorporates provisions to address recapture of benefits and fund shortfalls in trust funds.
Sponsors
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Primary sponsor
Dean Phillips
Cosponsors
Chris Stewart
Jackie Walorski
Larry Bucshon
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