To amend the Internal Revenue Code of 1986 to provide incentives to improve America's research competitiveness, and for other purposes.
Innovation Tax Credit Act of 2008 - Amends the Internal Revenue Code to revise the tax credit for increasing research activities by: (1) phasing in increases in the alternative simplified tax credit rate through 2009; (2) establishing a 20% alternative simplified tax credit rate in 2010 in lieu of the standard research tax credit rate; (3) increasing the amount of basic and contract research expenses eligible for such tax credit; and (4) making such tax credit permanent.
Referred to the House Committee on Ways and Means.
Read twice and referred to the Committee on Finance.
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S13154-13155)
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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