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Tax Relief, Simplification, and Equity Act of 2003 (Placed on Calendar in Senate)
SEC. 302. EXPANSION OF HUMAN CLINICAL TRIALS QUALIFYING FOR ORPHAN DRUG CREDIT.
- (a) IN GENERAL- Paragraph (2) of section 45C(b) (relating to qualified clinical testing expenses) is amended by adding at the end the following new subparagraph:
- `(C) TREATMENT OF CERTAIN EXPENSES INCURRED BEFORE DESIGNATION- For purposes of subparagraph (A)(ii)(I), if a drug is designated under section 526 of the Federal Food, Drug, and Cosmetic Act not later than the due date (including extensions) for filing the return of tax under this subtitle for the taxable year in which the application for such designation of such drug was filed, such drug shall be treated as having been designated on the date that such application was filed. The preceding sentence shall not apply with respect to any expense incurred after December 31, 2010.'.
(b) EFFECTIVE DATE- The amendment made by subsection (a) shall apply to expenses incurred after the date of the enactment of this Act.
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