Budget Amendment ID: FY2015-S4-12-R1

Redraft OTH 12

Medical Device Tax Credit Commission

Messrs. Tarr, Hedlund, Ross, Humason and Michael O. Moore moved that the proposed new text be amended moved that the bill be amended by inserting, after section 86, the following new section:-

“SECTION86A. (a) There shall be a commission to study the feasibility of establishing a tax credit for medical device manufacturing companies that are adversely affected by increases in the medical device tax pursuant to section 1405 of the Patient Protection and Affordable Care Act, Public Law 111-148. In studying the feasibility of such a credit, the commission shall examine, factors including, but not limited to: (i) the potential cost to the commonwealth; (ii) the potential benefit derived by affected businesses; and (iii) the economic impact on the commonwealth of instituting such a credit.

(b) The commission shall be comprised of the following 9 members: the commissioner of the department of revenue or a designee who shall serve as chair; the house and senate chairs of the joint committee on revenue; 1 member of the senate appointed by the senate minority leader; 1 member of the house of representatives appointed by the house minority leader; 1 representative of the Massachusetts Medical Society; 1 representative of the Medical Device Industry Council; 1 representative of the Associated Industries of Massachusetts; and 1 representative of the Massachusetts Biotechnology Council.

(c) The commission shall hold its first meeting within 90 days after the effective date of this section. The commission shall file a report detailing its work, findings and the feasibility of such a credit, including any legislative recommendations, with the clerks of the house of representatives and the senate on or before December 31, 2014.”