‘(a) Allowance of Credit- There shall be allowed as a credit against the tax imposed by this chapter--
‘(1) an amount equal to the qualified stem cell research and storage contribution paid by the taxpayer during a taxable year, and
‘(2) $2,000 for each qualified umbilical cord blood donation made by the taxpayer during a taxable year.
‘(b) Qualified Stem Cell Research and Storage Contribution- For purposes of this section--
‘(1) IN GENERAL- The term ‘qualified stem cell research and storage contribution’ means the amounts donated by the taxpayer to an eligible facility for the purpose of promoting qualified stem cell research or the storage of qualified stem cells.
‘(2) QUALIFIED STEM CELL- For purposes of this section, the term ‘qualified stem cell’ means a human stem cell obtained from a human placenta, umbilical cord blood, amniotic fluid, an organ or tissue of a living or deceased human being who has been born, or an organ or tissue of unborn human offspring who died of natural causes (such as spontaneous abortion).
‘(3) ELIGIBLE FACILITY- The term ‘eligible facility’ means a research institution or storage facility that does not engage in research relating to stem cells derived from human embryos and does not store stem cells derived from human embryos.
‘(c) Qualified Umbilical Cord Blood Donation- For purposes of this section, the term ‘qualified umbilical cord blood donation’ means the donation by the taxpayer, on the occasion of the birth of a child of the taxpayer, of--
‘(1) the neonatal blood remaining in the placenta and umbilical cord after separation of the mother from the newborn baby, or
‘(2) any other part of the umbilical cord.
‘(d) Filing Requirements-
‘(1) MARRIED INDIVIDUALS- If the taxpayer is married at the close of the taxable year, the credit shall be allowed under subsection (a)(2) only if--
‘(A) the taxpayer and his spouse file a joint return for the taxable year, or
‘(B) the taxpayer is the mother of the child referred to in subsection (c).
‘(2) INDIVIDUALS WHO ARE NOT MARRIED- If the taxpayer is not married at the close of the taxable year, the credit shall be allowed under subsection (a) only if the taxpayer is the mother of the child referred to in subsection (c).
‘(3) MARITAL STATUS- An individual legally separated from his spouse under a decree of divorce or of separate maintenance shall not be considered as married.’.
(b) Business Related Credit for Qualified Research and Storage- Subpart D of part IV of subchapter 1 of such Code is amended by inserting after section 45Q the following new section:
U.S. Congress - Text of H.R.1654 as Introduced in House Cures Can Be Found Act of 2009
