This bill increases the research expense tax credit by increasing the amount of expenditures eligible for the credit, doubling the rate by which the credit is calculated, doubling the maximum amount of the credit that may be claimed and halving the base amount used to determine the credit. The bill also establishes an annual reporting requirement and considerations that must be taken into account when developing evaluation parameters to perform a review of the tax credit.

Statutes affected:
Bill Text LD 926, HP 591: 36.5219