Establishes a transferable tax credit for pediatric cancer research expenditures in Massachusetts.
The bill proposes to amend the General Laws of Massachusetts by adding a new section that establishes a transferable tax credit for expenditures related to pediatric cancer research. Eligible institutions, defined as hospitals within the commonwealth actively conducting pediatric cancer research, can claim this credit. The credit can be transferred to other individuals or entities, allowing them to apply it against their tax liabilities. The total amount of credits allowed per fiscal year is capped at $10,000,000.
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