2007 House Bill 4606

Authorize certain R&D tax subsidies

Introduced in the House

April 18, 2007

Introduced by Rep. Ed Clemente (D-14)

To authorize up to 25 subsidies in the form of transferable Single Business Tax credits worth up to $500,000 each for a contribution (but not contract research) to an firm unconnected to the giver which is engaged in research and development that employs fewer than 50 full-time employees or has gross receipts of less than $10 million.

Referred to the Committee on Tax Policy

April 25, 2007

Reported without amendment

With the recommendation that the bill be referred to the Committee on New Economy and Quality of Life.

Referred to the Committee on New Economy and Quality of Life