S.2197: A bill to amend the Internal Revenue Code of 1986 to reform the credit for increasing research activities, and for other purposes.

This bill amends the Internal Revenue Code, with respect to the tax credit for increasing research activities (known as the research and experimentation tax credit), to: increase the alternative simplified credit rate to match the rate of the regular credit; allow taxpayers to use reasonable estimation techniques in lieu of contemporaneous accounting to measure employee hours per business component; allow employees engaging in the...

(Source: Library of Congress)