What does Preamble of Cameron’s Law do?

This bill proposes to amend the Internal Revenue Code of 1986. The stated purpose is to restore the amount of the orphan drug tax credit.

What does SHORT TITLE. of Cameron’s Law do?

This bill is formally titled Cameron's Law.

What does RESTORATION OF AMOUNT OF ORPHAN DRUG TAX CREDIT. of Cameron’s Law do?

This section amends Section 45C(a) of the Internal Revenue Code of 1986. The amendment changes the percentage from '25 percent' to '50 percent'. The amendment applies to taxable years beginning after the date of enactment of this Act.

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Cameron’s Law

Last updated: 2/18/2025 · Introduced: 2/18/2025

Author: Josh Gottheimer (D-NJ)

TL;DR (AI)

The bill increases the orphan drug tax credit from 25% to 50% for companies developing treatments for rare diseases.
This change applies to tax years beginning after the bill's enactment.
The bill modifies the Internal Revenue Code of 1986 to achieve these changes.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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