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2012 SESSION
SB 579 Commonwealth Innovation Investment Fund; created.
Introduced by: Mark R. Herring | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Research and technology funding; Commonwealth Innovation Investment Fund. Creates the Commonwealth Innovation Investment Fund. The Fund will be administered by the Innovation and Entrepreneurship Investment Authority to create, attract, retain, expand, and enhance technology research, innovation, and economic development in the Commonwealth. Beginning in 2014, the Fund will receive a portion of the income taxes withheld by science and innovation companies that employ persons in the Commonwealth. The percentage of the withheld taxes allocated to the Fund will be based on a percentage of the difference between the current year's withheld taxes and the amount withheld in 2011, the baseline year.
FULL TEXT
AMENDMENTS
HISTORY
- 01/18/12 Senate: Presented and ordered printed 12104189D
- 01/18/12 Senate: Referred to Committee on General Laws and Technology
- 01/30/12 Senate: Reported from General Laws and Technology with amendments (15-Y 0-N)
- 01/30/12 Senate: Rereferred to Finance
- 02/08/12 Senate: Passed by indefinitely in Finance (13-Y 2-N)