1. Short title This Act may be cited as the Protecting America’s Life Saving Medicines Act of 2019 . 2. Study on high-risk, high-reward drugs (a) In general Not later than 180 days after the date of the enactment of this Act, the Secretary of Health and Human Services, acting through the Commissioner of Food and Drugs, shall conduct a study to determine which of the drugs that are being tested (as of such date of enactment) under subsection (i) of section 505 of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 355 ) are unlikely to be approved under subsection (c) of such section, but would, if approved, address an unmet medical need for the treatment of a serious or life-threatening disease or condition or a rare disease or condition. (b) Submission to Treasury Not later than 180 days after the completion of the study under subsection (a), the Secretary of Health and Human Services, acting through the Commissioner of Food and Drugs, shall transmit to the Secretary of the Treasury (or the Secretary’s delegate) a list of the drugs that the Secretary of Health and Human Services determines meets the criteria specified in subsection (a). 3. Credit for clinical testing expenses for certain high-risk, high-reward drugs (a) In general Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 45T. Clinical testing expenses for certain high-risk, high-reward drugs (a) In general For purposes of section 38, the credit determined under this section for the taxable year is an amount equal to 25 percent of the qualified clinical testing expenses for the taxable year. (b) Qualified clinical testing expenses For purposes of this section— (1) Qualified clinical testing expenses (A) In general Except as otherwise provided in this paragraph, the term qualified clinical testing expenses means the amounts which are paid or incurred by the taxpayer during the taxable year which would be described in subsection (b) of section 41 if such