US HB7509

Businesses using foreign adversary-controlled technology would be classified as "foreign-influenced entities" and denied certain tax benefits under the Internal Revenue Code

Foreign adversary-controlled technology includes information and communications technology designed, developed, or manufactured by specified foreign entities, as well as products dependent on or interoperable with such technology for core functionality

Bonus depreciation under Section 168(k) would be denied for foreign adversary-controlled technology and property owned by prohibited foreign entities

Full expensing of domestic research and experimental expenditures under Section 174A would not apply to amounts paid for acquiring or developing foreign adversary-controlled technology or paid by prohibited foreign entities

The research and development tax credit under Section 41 would be denied to specified foreign entities and foreign-influenced entities, with all provisions taking effect for taxable years beginning one year after enactment