An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Tax credit

A direct reduction in the amount of income tax owed. Unlike a deduction, which reduces taxable income, a credit directly lowers the tax bill dollar-for-dollar.

Translational research

Scientific research focused on applying basic scientific discoveries to practical applications, particularly in developing new treatments or technologies for diseases. It bridges the gap between fundamental research and clinical care.

Neurodegenerative diseases

Conditions characterized by the progressive loss of nerve cells (neurons) in the brain or spinal cord, leading to problems with movement, balance, speech, breathing, and heart function. Examples include Alzheimer's, Parkinson's, and Huntington's disease.

Psychiatric conditions

Mental health disorders that involve disturbances in thinking, emotion, behavior, or relationships. Examples include depression, anxiety disorders, schizophrenia, and bipolar disorder.

Internal Revenue Code (IRC)

The body of law in the United States that governs federal taxes, including income tax, estate tax, gift tax, and various excise taxes.

Tax-exempt entity

An organization, such as a non-profit charity, educational institution, or government body, that is not required to pay federal income tax on some or all of its income.