H.R. 6109 (112th): Investing in American Innovation Act of 2012

Introduced:
Jul 12, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Sander Levin [D-MI12]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on July 12, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 12, 2012
Referred to Committee Jul 12, 2012
Cosponsors
10 cosponsors (10D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to extend the research and development tax credit, to limit treaty benefits with respect to certain deductible related-party payments, and to treat general aviation aircraft as 7-year property.

Summary

No summaries available.

Text

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Last updated Jul 12, 2012.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

7/12/2012--Introduced.
Investing in American Innovation Act of 2012 - Amends the Internal Revenue Code to:
(1) extend through 2012 the tax credit for increasing research activities;
(2) prohibit a reduction under any treaty of the United States of tax withholding for a tax deductible payment made between persons who are members of the same foreign controlled group of entities unless there would be a similar reduction for payments made directly to the foreign parent corporation of such entities; and
(3) classify general aviation aircraft as seven-year property for purposes of the depreciation tax deduction (currently, expenses for aircraft can be deducted or expensed in the current taxable year).
Defines "general aviation aircraft" as any airplane or helicopter not used in commercial or contract carrying of passengers or freight, but which primarily engages in the carrying of passengers.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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