26 U.S. Code [§ 48D. Repealed. Pub. L. 115–141, div. U, title IV, § 401(d)(3)(A), Mar. 23, 2018, 132 Stat. 1209]

Section, added Pub. L. 111–148, title IX, § 9023(a), Mar. 23, 2010, 124 Stat. 877, provided for a qualifying therapeutic discovery project credit.

Savings Provision

Pub. L. 115–141, div. U, title IV, § 401(d)(3)(C), Mar. 23, 2018, 132 Stat. 1209, provided that:

“In the case of the repeal of section 48D(e)(1) of the Internal Revenue Code of 1986, the amendments made by this paragraph [amending sections 49, 50, and 280C of this title and repealing this section] shall not apply to expenditures made in taxable years beginning before January 1, 2011.”

For provisions that nothing in repeal by Pub. L. 115–141 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to Mar. 23, 2018, for purposes of determining liability for tax for periods ending after Mar. 23, 2018, see section 401(e) of Pub. L. 115–141, set out as a note under section 23 of this title.

Grants for Qualified Investments in Therapeutic Discovery Projects in Lieu of Tax Credits

Pub. L. 111–148, title IX, § 9023(e), Mar. 23, 2010, 124 Stat. 881, directed the Secretary of the Treasury to award grants for 50 percent of a qualified investment in a qualifying therapeutic discovery project in 2009 or 2010 in lieu of tax credit allowed under section 48D of this title.