Senate Votes To Double R&D Tax Credit

Jan 31, 2013

The New Hampshire Senate voted unanimously Thursday to double state business tax credits for research and development. The policy, which lifts the total credits available from 1 to 2 million dollars,  is a priority for Governor Maggie Hassan. Republican Senator Bob Odell of Lempster is the measure’s prime sponsor. He told colleagues that doubling the credit is long overdue.

"It sends a strong message that N.H. is committed to helping our businesses succeed, and will encourage those companies and industries already here,  thriving in N.H. to stay here."

The Senate unanimously backed a similar research and development tax credit increase last year, but the proposal failed to became law after republicans in the House amended it to also include language requiring women seeking abortions to wait 24 hours.