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 in this critical industry sector within the state. The credit would be designed to support economic development and bolster the semiconductor supply chain. It is intended to incentivize companies to establish or expand operations in Massachusetts.
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.
- Provides for the assessment and collection of the tax credit.
- Allows for adjustments to the credit based on specific investment criteria.
Who is affected
- Semiconductor companies
- Massachusetts businesses
- The Massachusetts economy
- Investors in semiconductor companies
- Taxpayers
Notable changes
- Creates a new tax incentive for semiconductor manufacturing.
- Potentially stimulates investment in a strategically important industry.
- May impact state tax revenue.
Bill text
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Sponsors
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2 on record
Primary sponsor
Cosponsor
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