A bill to amend the Internal Revenue Code of 1954 to provide, for purposes of the credit for increasing research activities and for the credit available with respect to certain basic research by colleges, universities, and certain research organizations, that qualified research expenses and basic research shall include expenses incurred in promoting the education and training of qualified individuals for future employment in the trade or business of the taxpayer.

Amends the Internal Revenue Code to increase from 65 percent to 100 percent the amount of costs which may be taken into account by a corporation for purposes of the income tax credit for certain basic research performed under contract by colleges, universities, and research organizations.

Expands the types of costs which may be taken into account for purposes of such credit to include salaries and costs incurred for the instruction of courses in math, science, computer science and engineering regardless of specific commercial objective.