To amend the Internal Revenue Code of 1986 to provide an exception from the passive loss rules for investments in specified medical research small business pass-thru entities.
About This Bill
Committee
Latest Action · April 14, 2022
Referred to the House Committee on Ways and Means.
Infectious Disease Therapies Research and Innovation Act of 2022
This bill exempts from the definition of passive activity, for purposes of the passive loss tax rules, any qualified medical research activity of a specified medical research small business pass-thru entity.
The bill defines specified medical research small business pass-thru entity as any domestic pass-thru entity if more than 80% of such entity's expenditures on research are paid or incurred in connection with qualified medical research activities and the gross receipts of such entity for the taxable year are less than $1 million.
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