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Lawmaker seeks tax-credit program to fund cancer research

$10M in credits would be available to Pa. businesses

A Lancaster state senator said he plans to introduce a bill that will create new tax credits for businesses and raise millions of dollars in funding for pediatric cancer research.

Sen. Scott Martin (R-Lancaster) said that if passed, the legislation would allow companies to apply to the Department of Revenue for a tax credit after making a donation to a pediatric cancer research hospital in Pennsylvania.

The credits would be capped at $10 million per year.

“Over 10 years at an annual limit of $10 million, we have an opportunity to contribute $100 million towards pediatric cancer research,” Martin wrote this week in a notification of his intent to introduce the bill.

The legislature has taken steps recently to support children and families affected by cancer by promoting pediatric cancer research with the passage of Act 73 of 2018. The law allows Pennsylvania drivers to donate to a pediatric cancer research fund when renewing their vehicle registration.

The legislature also passed Act 39 of 2017 which allows individual taxpayers, on their tax returns,to designate contributions to pediatric cancer research.

Shelby White
Shelby White covers banking and finance, law and Lancaster County for the Central Penn Business Journal. For tips, email her at [email protected].

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