SB 6347-S2.E - DIGEST

(DIGEST AS ENACTED)

     Establishes a program of business and occupation tax credits for qualified research and development expenditures.

     Establishes a tax deferral program for high-technology research and development and pilot scale manufacturing facilities.

     Establishes repayment schedules.

     Requires assessments of the results of the tax credit and deferral programs in 1997, 2000, and 2003.