SB23-066 Summary

• Eliminates the requirement that businesses show a profit during the last fiscal year to be eligible for international export development expense reimbursement from the advanced industry export acceleration program.

• Extends the repeal date of the Advanced Industry Export Acceleration Program from January 1, 2025 to January 1, 2035.

• Extends the Advanced Industries Acceleration Grant Program end date from July 1, 2024 to July 1, 2034 and changes reporting requirements from ten years to twenty years after November 1, 2014.

• Extends the Innovation Reinvestment withholding transfer program for bioscience and clean technology from nine years to eleven years of tax withholding credits, with repeal date moved from July 1, 2024 to July 1, 2026.

• Changes grammatical references from plural "moneys" to singular "money" throughout the statutes.