PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Apr 26, 2000
Prescription Price Equity Act of 2000 - Amends the Internal Revenue Code to deny, to any taxpayer who is a member of a worldwide affiliated group with any disqualified gross receipts from any developed foreign country, the applicable percentage of the research-related tax benefits.Defines the term "disqualified gross receipts" to mean, with respect to any developed foreign country, gross receipts of the worldwide affiliated group from prescription drugs manufactured or produced by any member of such group and sold for use or consumption in such country if such gross receipts are at least five percent less than the amount which would be such gross receipts were such drugs sold at their respective average manufacturing prices charged by members of such group in the United States. Defines, in addition, the terms "developed foreign country," "applicable percentage," and "research-related tax benefits."
People & committees
Sen. Wellstone, Paul D. [D-MN] · D–MN
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S2943-2944)
Introduced in Senate
Primary sources
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Source last updated: Feb 10, 2026. Consult Congress.gov for the current record.
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