HB 1695 -
By Representative McIntire
On page 1, line 12, after "amount of" insert "incremental"
On page 1, line 14, strike "amounts" and insert "((amounts))
incremental qualified research and development expenditures"
On page 5, line 11, after "(b)" insert ""Incremental qualified
research and development expenditures" means the amount of qualified
research and development expenditures, or the amount received in
compensation for the same, for the current reporting period, less the
average amount expended, or received in compensation, in reporting
periods for the three prior calendar years.
(c)"
Reletter the remaining subsections consecutively and correct any internal references accordingly.
EFFECT: Modifies the credit calculation by taking the difference of R&D expenditures in the current reporting period and the average R&D expenditures for reporting periods for the three prior calendar years.