To amend the Internal Revenue Code to provide a refundable credit for costs associated with Information Sharing and Analysis Organizations.

“36C. Cybersecurity information sharing 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 cybersecurity information sharing organization costs paid or incurred by the taxpayer during such taxable year.

“(b) Qualified cybersecurity information sharing organization costs—For purposes of this section—

“(1) In general—The term qualified cybersecurity information sharing organization costs means the sum of—

“(A) dues for membership in a designated cybersecurity information sharing organization,

“(B) personnel participation costs,

“(C) product and service costs directly related to the sharing of information with a designated cybersecurity information sharing organization, and

“(D) other amounts (not including amounts for travel) relating to participation in activities of the designated cybersecurity information sharing 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 a designated cybersecurity information sharing organization on behalf of the taxpayer, determined on the basis of the regular hourly compensation paid to each such employee.

“(3) Designated cybersecurity information sharing organization—The term designated cybersecurity information sharing organization means—

“(A) an Information Sharing and Analysis Organization (as defined in section 212(5) of the Homeland Security Act of 2002 (6 U.S.C. 131(5))),

“(B) a local, regional, or State fusion center (as defined in section 210A(j)(1) of such Act (6 U.S.C. 124h(j)(1))), or

“(C) an organization that has been identified by the Secretary as such in consultation with the Secretary of Homeland Security,”