Amendment ID: S2531-4

Amendment 4

Independent nonprofit manufacturing company eligibility

Messrs. Lewis and Tran move that the proposed new text be amended by adding the following new sections:-

SECTION X. Section 2 of chapter 23I of the General Laws is hereby amended by inserting, after the definition of “equity investment” in line 42, the following definition:-

“Independent nonprofit manufacturing company”, a nonprofit manufacturing organization that holds tax-exempt status granted under section 501(c)(3) of the Internal Revenue Code and shall be organized and operated primarily to manufacture, virtually or directly, Food and Drug Administration approved medicines to increase access by addressing shortages, quality issues or affordability of medicines.

SECTION Y. Subsection (d) of Section 5 of said chapter 23I is hereby amended by adding the following paragraph:-

An independent nonprofit manufacturing company shall be eligible for the commonwealth life sciences investment program and the life sciences tax incentive program, established in this section and shall be exempt from equity investment and taxation requirements. An independent nonprofit manufacturing company shall be eligible to receive funding from the center provided that said company shall not manufacture exclusively for a single organization and provides price transparency to the commonwealth for all products produced by an independent nonprofit manufacturing company.