By Mr. Tisei, a petition (accompanied by bill, Senate,
No. 1821) of Richard R. Tisei, Bradley H. Jones, Jr.,
Bruce E. Tarr, Paul J. Loscocco and other members of the
General Court for legislation relative to expanding the
investment tax credit. Revenue.
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Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. SECTION 1. Section 38C of chapter 63, as amended by section 27 of chapter 163 of the acts of 2005 is hereby amended by striking the following: - “provided however, that a corporation that qualifies as a domestic research and development corporation only by reason of its expenditures shall not be entitled to the credit provided in section 31A by virtue of its qualification as a domestic research and development corporation.”
