Section 1 Short title
This Act may be cited as the “Research and Experimentation Advances Competitiveness at Home Act of 2016” or as the “REACH Act of 2016”.
Research and Experimentation Advances Competitiveness at Home Act of 2016
A BILL
To amend the Internal Revenue Code of 1986 to increase the alternative simplified credit for research expenses.
Sec. 2 Increase in alternative simplified credit for research expenses
In general— Section 41(c)(5)(A) of the Internal Revenue Code of 1986 is amended by striking “14 percent (12 percent in the case of taxable years ending before January 1, 2009)” and inserting “20 percent”.
Effective date— The amendment made this section shall apply to taxable years beginning after December 31, 2015.