Bill Text: MA H339 | 2009-2010 | 186th General Court | Introduced
Bill Title: Further regulating life sciences in the Commonwealth
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2010-05-13 - Bill reported favorably by committee and referred to the House Committee On Ways and Means [H339 Detail]
Download: Massachusetts-2009-H339-Introduced.html
The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Peter J. Koutoujian
_______________
To the
Honorable Senate and House of Representatives of the Commonwealth of
Massachusetts in General
��������������� Court assembled:
��������������� The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:
An Act Providing for Further Expansion of the Life Sciences Industry in the Commonwealth.
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PETITION OF:
|
Name: |
District/Address: |
|
Peter J. Koutoujian |
10th Middlesex |
|
Charles A. Murphy |
21st Middlesex |
|
Michael J. Rodrigues |
8th Bristol |
|
Anthony D. Galluccio |
Middlesex, Suffolk and Essex |
|
Bruce E. Tarr |
First Essex and Middlesex |
The Commonwealth of
Massachusetts
_______________
In the Year Two Thousand and Nine
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An Act Providing for Further Expansion of the Life Sciences Industry in the Commonwealth.
��������������� Be
it enacted by the Senate and House of Representatives in General Court
assembled, and by the authority of the same, as follows:
SECTION 1. Section 30 of chapter 63 of the General Laws, as last amended by Chapter 173 of the Acts of 2008, is hereby amended by deleting paragraph 17 thereof and substituting therefor the following paragraph: --
����������� 17.� Notwithstanding the last sentence in subparagraph (b) of paragraph 5, to the extent authorized pursuant to the life sciences tax incentive program established by section 5 of chapter 23I, losses sustained in any taxable year by a taxpayer engaged in business as a life sciences company as defined by section 2 of chapter 23I may, to the extent approved pursuant to said life sciences tax incentive program, be carried back for not more than 2 years, and may be carried forward for not more than 20 years.
SECTION 2.� Said section 30 of said chapter 63 is hereby further amended by striking out paragraph 17, inserted by section 1.
SECTION 3. Section 1 shall take effect on January 1, 2009; provided, however, that nothing herein shall be deemed to preclude the carryback of losses to taxable years beginning before the effective date of this act.
SECTION 4.� Section 2 shall take effect on December 31, 2018.
