Research and Development Tax Credit

Summary

The bill amends the state’s R&D tax‑credit statute to limit the total credits granted to all businesses to $50.9 million each year (with a $16.5 million limit for 2018). Companies could apply for credits for qualified research expenses incurred the prior year during a one‑week window in March, and any excess demand would be prorated. The measure failed, dying in the Ways & Means Committee.

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