Install
Cameron’s Law
To amend the Internal Revenue Code of 1986 to restore the amount of the orphan drug tax credit.
- Introduced
- Committee
- Passed House
- Passed Senate
- To President
- Became law
Summary
Cameron's Law
This bill increases the orphan drug tax credit to 50% (from 25%) of qualified clinical testing expenses paid or incurred in the development of drugs to treat certain rare diseases or conditions.
As background, the Tax Cuts and Jobs Act reduced the orphan drug tax credit (for tax years after 2017) to 25% of qualified clinical testing expenses (e.g., wages, supplies, and certain contract expenses) paid or incurred in the development of drugs to treat certain rare diseases or conditions. For 2017 and prior tax years, the orphan tax credit was 50% of such expenses paid or incurred.
Summary by the Congressional Research Service, Library of Congress.
Actions
- Feb 18, 2025 Referred to the House Committee on Ways and Means.
- Feb 18, 2025 Introduced in House
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