Scientific Research and Education Act

Scientific Research and Education Act - Amends the Internal Revenue Code to allow corporations a full income tax credit for payments to institutions of higher education and certain research organizations for basic research or scientific education (present law permits a credit for only 65 percent of expenses). Eliminates the requirement that corporations claiming a credit in subsequent years for research expenses must take into account the amount of expenses paid in previous years in computing the amount of expenses available for the credit.

Includes as an organization eligible to receive payments from a corporation a post-secondary or adult education organization which grants a one- or two-year certificate and has occupational specific programs.

Requires that amounts paid by corporations to educational institutions as payments for scientific education be used to pay salaries of teachers providing scientific education.

Disqualifies subchapter s corporations, personal holding companies, and service organizations from eligibility for the tax credit.