The Senate Ways and Means committee has unanimously agreed to send to the floor a bill that doubles New Hampshire’s research and development tax credit – a priority of both the Business and Industry Association, as well as Senate Democrats.
Senator Odell, who is chairman of the Ways and Means committee, says he introduced a similar bill last year, but it failed despite unanimous support in the Senate and strong support in the house. Odell says the House added a non-germaine amendment in committee of conference. “The goal was to force the Senate to accept an amendment that dealt with abortion,” Odell says, “and the Senate would not do that. That’s just not our style.”
The bill, if passed, will increase the total amount of available funds from $1 million to $2 million, while maintaining the current maximum of $50,000 per credit. The Senate will debate the bill on January 31st.