PILLS Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 1396 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 1396 To amend the Internal Revenue Code of 1986 to establish the generic drugs and biosimilars production credit, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 14, 2025 Ms. Tenney introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish the generic drugs and biosimilars production credit, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Producing Incentives for Long-term production of Lifesaving Supply of medicine Act'' or the ``PILLS Act''. SEC. 2. GENERIC DRUGS AND BIOSIMILARS PRODUCTION CREDIT. (a) In General.--Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end t…