The House of Representatives today passed SB 1, legislation doubling the state's research & development tax credit and extending it permanently, a key component of Governor Maggie Hassan's "Innovate NH" jobs plan. The Senate must consider a House amendment, creating a study committee, to the bill. The Governor issued the following statement on the passage:
"I applaud the House of Representatives for their overwhelming bipartisan support of this important measure to help New Hampshire businesses innovate and create jobs. The R&D tax credit has provided a boost to hundreds of businesses, and doubling the credit will help more businesses as they develop new products. Making the credit permanent will also increase predictability for businesses, helping those who intend to use the credit in the future to plan ahead. I thank the Legislature for making this measure a priority, and I look forward to signing into law this significant step forward in our efforts to build a more innovate economic future."