under section 46 for the taxable year which is properly allocable to the qualifying advanced medical manufacturing equipment credit determined under section 48D(a), plus . (c) Part of investment credit Section 46 of such Code is amended by striking and at the end of paragraph (5), by striking the period at the end of paragraph (6) and inserting , and , and by adding at the end the following new paragraph: (7) the qualifying advanced medical manufacturing equipment credit. . (d) Clerical amendment The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec. 48D. Qualifying advanced medical manufacturing equipment credit. . (e) Effective date The amendments made by this section shall apply to periods after the date of the enactment of this section under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the date of the enactment fo the Revenue Reconciliation Act of 1990). 303. New medical research expenditure component of credit for increasing research activities (a) In general Section 41(a) of the Internal Revenue Code of 1986 is amended by striking and at the end of paragraph (2), by striking the period at the end of paragraph (3) and inserting , and , and by adding at the end the following new paragraph: (4) 14 percent of specified medical research expenditures. . (b) Specified medical research expenditures Section 41(f) of such Code is amended by adding at the end the following new paragraph: (7) Specified medical research expenditures (A) In general The term specified medical research expenditures means amounts paid or incurred for qualified research with respect to any qualified countermeasure. (B) Qualified countermeasure The term qualified countermeasure has the meaning given to such term in section 319F–1(a)(2) of the Public Health Service Act (42 U.S.C. 247d–6a(a)(2)). . (c) Denial of double benefit (1) Taxable years beginning before January 1, 2021 In the case of