HB 248: Revise the Auditor of State law

The bill aims to provide tax incentives for businesses that invest in research and development, with the goal of promoting innovation and economic growth. It would offer a tax credit of up to 20% of qualified research expenses, with the credit phase-out starting at 10% for high-income taxpayers. The bill also includes provisions to increase funding for the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, which support small businesses in developing new technologies. Additionally, the bill would create a new tax credit for businesses that invest in clean energy technologies, such as solar and wind power.<br>This bill aims to improve the efficiency and transparency of government operations. It seeks to streamline bureaucratic processes, reduce paperwork, and increase accountability. The bill also focuses on promoting digital transformation,…