tax credit determined under section 45U. . (c) Clerical amendment The table of sections for subpart D of part IV of subchapter A of chapter 1, as amended by the preceding provisions of this Act, is amended by adding at the end the following new item: Sec. 45U. Research employment tax credit. . (d) Effective date The amendments made by this section shall apply to individuals who begin work for the employer after December 31, 2018, in taxable years ending after such date. 4. Research expenditure tax credit (a) In general Subpart D of part IV of subchapter A of chapter 1, as amended by the preceding provisions of this Act, is amended by adding at the end the following new section: 45V. Research expenditure credit (a) Allowance of credit For purposes of section 38, in the case of a qualified research intensive small business concern, the research expenditure tax credit determined under this section for the taxable year is an amount equal to 20 percent of so much of the qualified research expenditures of such concern for such taxable year as— (1) exceeds 30 percent of the gross expenditures paid or incurred by such concern during such taxable year, and (2) does not exceed 40 percent of such gross expenditures. (b) Definitions For purposes of this section— (1) Qualified research intensive small business concern The term qualified research intensive small business concern has the meaning given such term under section 45T. (2) Qualified research expenditures The term qualified research expenditures means research or experimental expenditures with the meaning of section 174. . (b) Credit made part of general business credit Subsection (b) of section 38 , as amended by the preceding provisions of this Act, is amended by striking plus at the end of paragraph (38), by striking the period at the end of paragraph (39) and inserting , plus , and by adding at the end the following new paragraph: (40) the research expenditure tax credit determined under section 45V. . (c) Clerical amendment The table of sections for subpart D of