Cyber Information Sharing Tax Credit Act

“36C. Information sharing and analysis organization credit

“(a) In general—There shall be allowed as a credit against the tax imposed by this subtitle for any taxable year an amount equal to the qualified Information Sharing and Analysis Organization costs paid or incurred by the taxpayer during such taxable year.

“(b) Qualified Information Sharing and Analysis Organization costs—For purposes of this section—

“(1) In general—The term qualified Information Sharing and Analysis Organization costs means the sum of—

“(A) dues for membership in an Information Sharing and Analysis Organization,

“(B) personnel participation costs,

“(C) product and service costs directly related to the sharing of information with the Information Sharing and Analysis Organization, and

“(D) other amounts (not including amounts for travel) relating to participation in activities of the Information Sharing and Analysis Organization.

“(2) Personnel participation costs—The term personnel participation costs means the cost associated with the time that employees of the taxpayer spend participating in activities of an Information Sharing and Analysis Organization on behalf of the taxpayer, determined on the basis of the regular hourly compensation paid to each such employee.

“(3) Information Sharing and Analysis Organization—The term Information Sharing and Analysis Organization has the meaning given such term by section 212(5) of the Homeland Security Act of 2002 (6 U.S.C. 131(5)), or such other meaning as identified by the Secretary in consultation with the Secretary of Homeland Security.”