Legislative Session number- 83

Bill Name: HF1183

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