S.537: COMPETE Act of 2015

Competitiveness and Opportunity by Modernizing and Permanently Extending the Tax Credit for Experimentation Act of 2015 or the COMPETE Act of 2015 Amends the Internal Revenue Code, with respect to the tax credit for research expenditures, to: (1) increase the rate of such credit to 25% of so much of the taxpayer's qualified research expenses in a taxable year as exceeds 50% of the average expenses for the three preceding taxable years; (2)...

(Source: Library of Congress)