A bill to amend the Internal Revenue Code of 1986 to extend permanently and expand the research tax credit.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to repeal the June 30, 1999, termination date for the research tax credit. Increases by one percent the alternative incremental tax credit for qualified research. Extends such credit to qualified research performed after December 31, 1999, in Puerto Rico or any other U.S. possession.…