Department of Treasury Releases Implementing Details for $1 Billion Tax Credit Program For Qualifying Therapeutic Discovery Projects

On Friday, May 21, 2010, the Department of Treasury released IRS Notice 2010-45 and a Fact Sheet, which explains how the qualifying therapeutic discovery project program for the 50 percent investment tax credit that was mandated by Section 9023 of the Patient Protection and Affordable Care Act (the Affordable Care Act or Act) will be administered. The Notice provides information regarding the application process for the $1 billion of tax credits/ grants under the program and the criteria to be considered.

Click the link below to read the full alert.

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