Income Tax; to create the R&D Tax Credit Enhancement Act

Summary

The bill establishes the R&D Tax Credit Enhancement Act, giving eligible research organizations and businesses a credit equal to 10% of qualified research expenses, or 15% for collaborative projects with in‑state academic institutions. Start‑ups (≤3 years old) and small firms (<50 employees) may elect a refundable $250,000 credit or a transferable credit. The credit is limited to $30 million each year and applies for tax years 2027 through 2031.

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