Bill > H2970

This bill establishes a transferable pediatric cancer research tax credit in Massachusetts. It allows hospitals located in the state that are actively conducting pediatric cancer research to claim a tax credit of up to $10 million per fiscal year for related expenditures. The credit can be transferred to any individual or entity, and the recipient can apply it against their own tax liability. The credit can also be carried forward for up to 3 years if it exceeds the hospital's tax due for the year. The bill is effective for the tax year beginning January 1, 2023, and the tax credit provision is set to expire on January 1, 2033.

Budget and Finance

https://malegislature.gov/Bills/193/H2970