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Public Policy Newsletter Article

Biocom California Co-Sponsored Tax Legislation Passes First Test

  • 2021-04-22T15:00:00.000+0000
  • Author: Jimmy Jackson

AB 593 (Petrie-Norris), state legislation co-sponsored by Biocom California, BIO and CLSA to retore the ability of life science companies to fully utilize net operating loss (NOL) and research and development credits, passed unanimously in its first test in the Assembly Revenue and Taxation Committee on April 12. The bipartisan vote was indicative of the broad support the bill has received. The bill next heads to the Assembly Appropriations Committee for a hearing.