Authorizes incentives for producing certain critical materials and pharmaceuticals

Summary

The bill expands the manufacturing sales‑tax exemption to cover critical materials and critical pharmaceuticals. It also creates a program that gives non‑refundable tax credits of 20% for projects spending $5‑$15 million and 25% for projects spending $15 million or more on facilities and equipment, with a $40 million annual cap. Companies can also apply for up to $500,000 in grants from a new fund, and credits can be carried forward or transferred.

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