# 116-hr-7505: American Innovation Act of 2020

116-hr-7505, American Innovation Act of 2020, is a 116th Congress bill sponsored by Rep. Buchanan, Vern [R-FL-16] (R-FL); status Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7505
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7505
- Congress: 116
- Title: American Innovation Act of 2020
- Status: Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Introduced: 2020-07-09
- Sponsor: Rep. Buchanan, Vern [R-FL-16] (R-FL)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

American Innovation Act of 2020 This bill revises the tax treatment of business start-up or organizational expenditures. Specifically, it allows an election to deduct such expenditures in an amount equal to the lesser of the aggregate amount of such expenditures incurred by an active trade of business or $20,000, reduced by the amount by which such aggregate amount exceeds $120,000. The remaining amount of such expenditures shall be amortized over the 180 month period after the trade or business begins. The bill also revises the tax treatment of partnership syndication fees and start-up net operating losses and tax credits after an ownership change.

## Related bills

- 116-hr-8867: CATS Act of 2020
- 116-hr-8805: Retail Revitalization Act of 2020
- 116-hr-8633: Humane Research and Testing Act of 2020
- 116-hr-8611: To designate the facility of the United States Postal Service located at 4755 Southeast Dixie Highway in Port Salerno, Florida, as the "Joseph Bullock Post Off…
- 116-hr-8580: Little Manatee Wild and Scenic River Act
- 116-hr-8558: Comprehensive Breast Reconstruction Act of 2020

## Sources
- [116-hr-7505 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7505)

## Related
- [116-hr-8867: CATS Act of 2020](https://policyrisk.com/legislation/116-hr-8867)
- [116-hr-8805: Retail Revitalization Act of 2020](https://policyrisk.com/legislation/116-hr-8805)
- [116-hr-8633: Humane Research and Testing Act of 2020](https://policyrisk.com/legislation/116-hr-8633)
- [116-hr-8611: To designate the facility of the United States Postal Service located at 4755 S…](https://policyrisk.com/legislation/116-hr-8611)
- [116-hr-8580: Little Manatee Wild and Scenic River Act](https://policyrisk.com/legislation/116-hr-8580)
- [116-hr-8558: Comprehensive Breast Reconstruction Act of 2020](https://policyrisk.com/legislation/116-hr-8558)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7505 (as of 2025-11-18).