A bill to amend the Internal Revenue Code of 1986 with respect to the allocation of research and experimental expenditures.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase from 50 percent to 67 percent the amount of research and development expenditures that a company must allocate to income from sources within the United States. Establishes a special rule for the qualified research and experimental expenditures required by governmental entities. Requires companies to report on a consolidated basis with respect to the expenditures associated with this source rule.…