Passage of the bill, as amended, that would make permanent the research and development tax credit that expired at the end of calendar year 2014, and would change the way elements of the credit are calculated. For the credit for qualified research expenses, the measure would eliminate the traditional calculation for the 20 percent qualified research credit, and increase the alternative simplified credit to 20 percent of the amount qualified expenses exceed 50 percent of average qualified expenses for the preceding three tax years. For the basic research credit, the measure would provide that the 20 percent credit would be based on basic research payments that exceed 50 percent of the average basic research payments for the three preceding tax years.