HB3105 Summary

• Makes the research and development tax credit permanent on an ongoing basis (previously temporary with expiration dates).

• Extends the carryforward period for unused research and development credits from 5 taxable years to 20 taxable years.

• Allows research and development credits to be carried back for one taxable year in addition to the carryforward period.

• Adds an exemption from Section 250 sunset provisions to the research and development credit, ensuring its permanent status.