# 116-hr-7917: IGNITE American Innovation Act

116-hr-7917, IGNITE American Innovation Act, is a 116th Congress bill sponsored by Rep. Phillips, Dean [D-MN-3] (D-MN); status Referred to the Subcommittee on Select Revenue Measures. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7917
- 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-7917
- Congress: 116
- Title: IGNITE American Innovation Act
- Status: Referred to the Subcommittee on Select Revenue Measures.
- Introduced: 2020-07-31
- Sponsor: Rep. Phillips, Dean [D-MN-3] (D-MN)
- Cosponsors: 4
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Innovation and Growth Now by Investing in Tomorrow's Enterprises Act or the IGNITE American Innovation Act This bill allows certain C corporation taxpayers to elect an increased advance refund of net operating loss carryovers attributable to COVID-19 (i.e., coronavirus disease 2019) research expenditures in 2020 and 2021. The bill also allows such taxpayers an advance refund of certain other net operating loss carryovers arising during 2015 through 2021. The bill allows an increased research tax credit for COVID-19 research expenditures paid or incurred on or after February 15, 2020, and before January 1, 2022.

## Cosponsors (4)

- Rep. Walorski, Jackie [R-IN-2] (R-IN), 2020-07-31T00:00:00.000Z
- Sen. Curtis, John R. [R-UT] (R-UT), 2020-08-14T00:00:00.000Z
- Rep. Stewart, Chris [R-UT-2] (R-UT), 2020-09-29T00:00:00.000Z
- Rep. Bucshon, Larry [R-IN-8] (R-IN), 2020-10-20T00:00:00.000Z

## Related bills

- 116-hr-4692: Countering Turkish Aggression Act of 2019
- 116-hr-4305: PAWS for Veterans Therapy Act
- 116-hr-3495: Improve Well-Being for Veterans Act
- 116-hr-2423: Women's Suffrage Centennial Commemorative Coin Act
- 116-hr-1044: Fairness for High-Skilled Immigrants Act of 2020
- 116-hr-748: CARES Act

## Sources
- [116-hr-7917 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7917)

## Related
- [116-hr-4692: Countering Turkish Aggression Act of 2019](https://policyrisk.com/legislation/116-hr-4692)
- [116-hr-4305: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/116-hr-4305)
- [116-hr-3495: Improve Well-Being for Veterans Act](https://policyrisk.com/legislation/116-hr-3495)
- [116-hr-2423: Women's Suffrage Centennial Commemorative Coin Act](https://policyrisk.com/legislation/116-hr-2423)
- [116-hr-1044: Fairness for High-Skilled Immigrants Act of 2020](https://policyrisk.com/legislation/116-hr-1044)
- [116-hr-748: CARES Act](https://policyrisk.com/legislation/116-hr-748)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7917 (as of 2025-11-18).