To amend the Internal Revenue Code of 1986 to extend for one year the business research credit.

In general— Subparagraph (B) of section 41(h)(1) of the Internal Revenue Code of 1986 is amended by striking “December 31, 2013” and inserting “December 31, 2014”.

Conforming amendment— Subparagraph (D) of section 45C(b)(1) of the Internal Revenue Code of 1986 is amended by striking “December 31, 2013” and inserting “December 31, 2014”.

Effective date— The amendments made by this section shall apply to amounts paid or incurred after December 31, 2013.