RESOLVE PROVIDING FOR AN INVESTIGATION AND STUDY BY A SPECIAL COMMISSION RELATIVE TO ESTABLISHING A TAX CREDIT FOR MEDICAL DEVICES OF MANUFACTURING COMPANIES
Resolved, that a special commission to consist of 3 members of the senate, 1 of whom shall be the senate chair of the joint committee on revenue, 1 of whom shall be the senate chair of the joint committee on economic development and emerging technologies and 1 of whom shall be appointed by the minority leader, 3 members of the house of representatives, 1 of whom shall be the house chair of the joint committee on revenue, 1 of whom shall be the house chair of the joint committee on economic development and emerging technologies and 1 of whom shall be appointed by the minority leader, the commissioner of revenue or a designee who shall serve as the chair and 4 persons to be appointed by the governor, of whom 1 shall be a representative of the Massachusetts Medical Society, 1 shall be a representative of the Massachusetts Medical Device Industry Council, Inc., 1 shall be a representative of the Associated Industries of Massachusetts, Inc. and 1 shall be a representative of the Donahue Institute at the University of Massachusetts shall be established for the purpose of making an investigation and study relative to the feasibility of establishing a tax credit for medical device manufacturing companies that are adversely affected by increases in the excise tax on medical device manufacturers pursuant to 26 U.S.C. section 4191, added by section 1405 of the Health Care and Education Reconciliation Act of 2010, Public Law 111-152. 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.
The commission shall report to the house of representatives the results of its investigation and study, and its recommendations, if any, together with drafts of legislation necessary to carry its recommendations into effect, by filing the same with the clerks of the house of representatives and the senate on or before June 30, 2015.
Approved July 24, 2014.