Miscellaneous Provisions Extension Act of 1985

[AI summary unavailable — showing source text] Miscellaneous Provisions Extension Act of 1985 - Title I: Revenue Provisions - Amends the Internal Revenue Code to extend the income tax credit for increasing research activities from December 31, 1985, until July 31, 1986. Reduces the amount of such credit from 25 percent to 20 percent of such expenditures. Allows such credit for basic research payments to qualified organizations. Revises certain definitions and special rules related to such credit. Extends the targeted jobs income tax credit from December 31, 1985, until July 31, 1986. Reduces the amount of such credit from the sum of 50 percent of first year wages and 25 percent of second year wages to 40 percent of first year wages. Requires that an individual must be employed for at least 14 days in order to be taken into account for such credit. Extends from December 31, 1985, until August 1, 1986, the income tax exclusions for educational assistance programs and group legal plans. Extends from December 31, 1985, until July 31, 1986, provisions relating to the awarding of attorney's fees to a prevailing taxpayer in Federal tax cases. Extends the increase in the excise tax on cigarettes until August 1, 1986. Extends from Decem…