The 2010 Patient Protection and Affordable Care Act (commonly referred to as the Health Reform Bill) has created a program of tax credits and tax-free grants to qualifying biotech firms. The program is designed to offer significant and near-immediate benefits to firms who have recently undertaken, or are on the verge of, project-specific biotech investments. If approved, a company will receive a tax credit or grant in the amount of 50% of qualified investments. However, the total amount of money available is capped at $1 billion – meaning companies need to apply for credits, and those acting quickly are most likely to be rewarded.
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