Biotechnology Investment Tax Credit – Approval of Applications – Competitive Award Process

Bill Number:  HB1763

Bill Sponsor(s):  Delegate Tarlau

Subject:  Rules and Executive Nominations

Bill Summary:

Requiring that applications for a credit against the State income tax for investments in biotechnology companies be awarded on a competitive basis; requiring the Department of Commerce to develop certain criteria for the approval of applications for the tax credit that are based on certain criteria used to award financial assistance under certain programs; applying the Act to all biotechnology investment tax credit certificates issued on or after June 30, 2018; etc.

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