The purpose of this legislation is to make it easier for small businesses to benefit from the research and development tax credit. The main goals are to expand eligibility for this credit and to simplify the application process, thereby encouraging innovation and growth among smaller companies. Key provisions of the legislation include several important changes. First, it raises the threshold for what qualifies as a small business from $5 million to 0 million in gross receipts. This means more businesses can qualify for the credit.