Extends the Technology Readiness Gross Receipts Tax Credit for national laboratories in New Mexico.
The bill extends the Technology Readiness Gross Receipts Tax Credit for national laboratories in New Mexico, allowing them to claim a credit for qualified expenditures made to assist businesses in achieving technology maturation. The credit amount is limited to $150,000 per business per fiscal year, with annual aggregate limits increasing from $2 million to $5 million over several fiscal years. National laboratories must coordinate and submit annual reports detailing their technology readiness assistance programs.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.