Health Care Reform Advisory: Reminder: Applications under the $1 Billion Qualifying Therapeutic Discovery Project Program Due July 21, 2010
6/30/2010
By Jonathan T. Cain and Travis L. Blais
In recent advisories, we reported that the Patient Protection and Affordable Care Act (aka the health care reform bill) includes $1 billion in tax credits and grants for small and mid-size life sciences companies under the Qualifying Therapeutic Discovery Project Program. The IRS recently issued guidance on how to apply under the program. Applicants will use a new Form 8942 to certify their eligibility and summarize their “qualified investments” on which they seek credits or grants. Applicants will also submit a Project Information Memorandum describing the project and its health care and economic merits. Applications must be postmarked by July 21, 2010.
