An Act authorizing an excise tax credit for eligible semiconductor companies
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill proposes to create an excise tax credit for eligible semiconductor companies operating in Massachusetts. The goal is to encourage investment and growth within this critical sector of the economy. The credit would be designed to support the development and manufacturing activities of these companies. It aims to bolster Massachusetts’ position in the semiconductor industry.
Key provisions
- Establishes an excise tax credit for semiconductor companies.
- Defines eligibility criteria for companies to receive the credit.
- Specifies the amount of the tax credit.
- Outlines the process for companies to apply for and receive the credit.
- Directs the Department of Revenue to administer the program.
Who is affected
- Semiconductor companies
- Massachusetts businesses
- The Massachusetts economy
- Taxpayers
Bill text
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Sponsors
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2 on record
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