hf1183FIRST ENGROSSMENTBiotechnology and health sciences industry tax free zone +establishment authorized, tax exemptions provided, and tax benefit repayment +provided.Section 1: Legislative findings provided.Sec. 2: Biotechnology and health sciences industry tax free zone +establishment authorized.Sec. 3: Federal taxable income deductions expanded.Sec. 4: "Taxable income" definition modified.Sec. 5-9: Technical statutory references added and conforming +changes provided.Sec. 10: Related term definitions modified.Sec. 11: Biotechnology and health sciences industry zone established.Sec. 12: Exemptions provided.Sec. 13: Related terms defined.Sec. 14: Development plan provided.Sec. 15: Biotechnology and health sciences industry zone limitations established.Sec. 16: Application for designation procedure and eligibility +requirements established.Sec. 17: Designation of biotechnology and health sciences industry +zone provided.Sec. 18: Tax incentives specified.Sec. 19: Individual income tax exemptions provided.Sec. 20: Corporate franchise tax exemptions provided.Sec. 21: Tax benefit repayment procedure established.Sec. 22: Zone performance remedies provided.AE