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(Sec. 2) This bill revises and makes permanent after 2014 the research tax credit. The rate of such credit is modified to equal the sum of 20% of so much of the qualified research expenses for the taxable year as exceeds 50% of the average qualified research expenses for the three preceding taxable years, 20% of so much of the basic research payments for the taxable year as exceeds 50% of the average basic research payments for the three preceding taxable years, plus 20% of amounts paid by a business taxpayer to an energy research consortium for energy research. If a taxpayer has no qualified research expenses in any of the three preceding taxable years, the rate of the tax credit is reduced to 10% of current research expenses.
The bill also provides that in the case of an eligible small business (i.e., a corporation whose stock is not publicly traded, a partnership, or a sole proprietorship with annual gross receipts not exceeding $50 million in a three-year period), the research credit may offset alternative minimum tax liability.
(Sec. 3) The bill prohibits the entry of the budgetary effects of this Act on either PAYCO scorecard under the Statutory Pay-As-You-Go Act of 2010.
Written by the nonpartisan Congressional Research Service, describing H.R. 880 as passed House amended on May 20, 2015. It is not the text of the measure; a later amendment may have changed what it does.
May 20, 2015Each bar: ✓ Yea from the bottom, ✕ Nay aboveMay 20, 2015
House May 20, 2015 · the primary vote
American Research and Competitiveness Act of 2015
Passed
274 Yea 145 Nay 13 not voting
Party-line vote 38 of 419 voting members broke with their own party: 37 Democrats, 1 Republican.
DemocratsRepublicansFilled: YeaRing: NayGrey: not voting or present
432 members on this roll call, from the official House record. Party majorities need at least five voting members, so an independent never counts as breaking with a party.
Signing on is not a vote: a member can cosponsor H.R. 880 and vote against it. 5 signed when it was filed.
Organizations that named H.R. 880 in a lobbying disclosure. Only those that cited the bill by number appear, so this is a floor, not a full list.
468 disclosures name this measure. Retrieved from LDA.gov on 2026-10-05. Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.