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 require deductions for research and experimental expenditures to be allocated to income from sources within the United States. Repeals a provision of the Tax Reform Act of 1986 which establishes a one-year requirement that 50 percent of such expenditures be allocated to U.S. income and the remainder on the basis of gross sales or gross income.…