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2009 SESSION

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HB 2455 Biosciences and other technology industries; qualified equity and subordinated debt investments.

Introduced by: John M. O'Bannon, III | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Development of the biosciences and other technology industries in the Commonwealth; qualified equity and subordinated debt investments tax credit. Redefines "qualified business" for purposes of investments eligible for the tax credit. The bill also allocates half of the available credits for investments in qualified businesses that were created to commercialize technology-related research developed at or in partnership with an institution of higher education. However, an investment shall not be qualified if the otherwise qualified business performs research on human cells or tissue derived from induced abortions, or from stem cells directly obtained from human embryos; excluding research conducted using stem cells other than embryonic stem cells. The bill, as introduced, was a recommendation of the Joint Subcommittee Studying Biosciences and Biotechnology in the Commonwealth (HJ 248).


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