HR 7527
MMEDS Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Medical Manufacturing, Economic Development, and Sustainability Act of 2020 (MMEDS Act) aims to boost domestic medical manufacturing by offering tax credits to companies relocating to and operating within economically distressed zones. Specifically, it provides a 40% tax credit for wages, fringe benefits, and depreciation related to qualified medical manufacturing facilities, as well as a credit for products and services purchased from these facilities. The bill also includes provisions to strengthen the national supply chain for medical products and incentivize the development of population health products, particularly those targeting vulnerable populations.
Sponsors
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Primary sponsor
Jenniffer [R-PR-At Large] Rescom. González-Colón
Cosponsors
Donna E. Shalala
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