Research and Experimentation Equipment Donations Tax Act of 1981

Research and Experimentation Equipment Donations Tax Act of 1981 - Amends the Internal Revenue Code to provide a deduction for a qualified research or education contribution by a corporation to a governmental unit or tax-exempt organization if: (1) the property donated is constructed by the taxpayer; (2) the contribution is made not later than two years after construction is completed; (3) the property is not exchanged for value; (4) the property is to be used by the donee solely for research or educational purposes; and (5) the taxpayer receives a written statement from the donee.

Provides that the amount of the charitable contribution shall not be reduced for such qualified research or education contributions. Provides special rules for inventory placed in service by the taxpayer.