S.2199 - PACE-Finance Act

A bill to amend the Internal Revenue Code of 1986 to provide tax incentives to promote research and development, innovation, and continuing education. view all titles (3)

All Bill Titles

  • Short: PACE-Finance Act as introduced.
  • Short: Protecting America's Competitive Edge Through Tax Incentives Act of 2006 as introduced.
  • Official: A bill to amend the Internal Revenue Code of 1986 to provide tax incentives to promote research and development, innovation, and continuing education. as introduced.

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01/26/06
 
 
 
 
 
 
 

Official Summary

Protecting America's Competitive Edge Through Tax Incentives Act of 2006 or the PACE-Finance Act - Amends the Internal Revenue Code to: (1) make permanent the tax credit for increasing research activities; (2) increase the rate of such credit from 20 to 40%; (3) expand such credit to i

Official Summary

Protecting America's Competitive Edge Through Tax Incentives Act of 2006 or the PACE-Finance Act - Amends the Internal Revenue Code to:
(1) make permanent the tax credit for increasing research activities;
(2) increase the rate of such credit from 20 to 40%;
(3) expand such credit to include expenses of a research consortia; and
(4) allow a business tax credit for the cost of employee continuing education in science or engineering. Directs the Secretary of the Treasury to:
(1) study and make recommendations on methods to expand the scope of the tax credit for increasing research activities;
(2) conduct an analysis of the U.S. tax system and its effect on innovation investment and related activities; and
(3) report on such studies to the President and Congress.

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