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Budget Summary FY2015

Outside Section 206
Data Current as of:  7/10/2014




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Medical device tax credit feasibility commission

SECTION 206.   (a) There shall be a commission to study the feasibility of establishing a tax credit for medical device manufacturing companies that are adversely affected by increases in the excise tax on medical device manufacturers pursuant to 26 U.S.C. section 4191, added by section 1405 of the Health Care and Education Reconciliation Act, Public Law 111-152. In studying the feasibility of such a credit, the commission shall examine factors including, but not limited to: (i) the potential cost to the commonwealth; (ii) the potential benefit derived by affected businesses; and (iii) the economic impact on the commonwealth of instituting such a credit.

(b) The commission shall be comprised of the following 11 members: the commissioner of revenue or a designee who shall serve as chair; the house and senate chairs of the joint committee on revenue; the house and senate chairs of the joint committee on economic development and emerging technologies; 1 member of the senate to be appointed by the minority leader; 1 member of the house of representatives to be appointed by the minority leader; 1 representative of the Massachusetts Medical Society; 1 representative of the Massachusetts Medical Device Industry Council, Inc.; 1 representative of the Associated Industries of Massachusetts, Inc.; and 1 representative of the Donahue Institute at the University of Massachusetts.

(c) The commission shall hold its first meeting within 90 days after the effective date of this section. The commission shall file a report detailing its work, findings and the feasibility of such a credit, including any legislative recommendations, with the clerks of the house of representatives and the senate not later than December 31, 2014.