Amendment ID: S2531-6

Amendment 6

Tax Expenditure Review

Messrs. Eldridge and Montigny, Ms. Jehlen and Mr. Lewis move that the proposed new text be amended by striking sections 7 and 8 in their entirety and inserting in place thereof the following sections:

SECTION 7. Chapter 130 of the acts of 2008 is hereby amended by striking out section 49 and inserting in place thereof the following section:-

Section 49. The value of any tax incentive award under the life sciences tax incentive program established in subsection (d) of section 5 of chapter 23I of the General Laws that extends beyond December 31, 2023, including carry-forwards of losses or credits, shall be taken into account during the year awarded and the full amount of such tax benefits potentially realized in periods after December 31, 2023 shall be counted against the annual ceilings for years ending prior to January 1, 2024. Tax incentives authorized pursuant to the life sciences tax incentive program shall count toward the $30,000,000 annual ceiling only if they are not otherwise available to a taxpayer.

SECTION 8. Section 54 of said chapter 130, as most recently amended by section 57 of chapter 46 of the acts of 2013, is hereby further amended by striking out the figure “2018” and inserting in place thereof the following figure:- 2023.