Deduction.--(a) In order to be eligible to receive a
manufacturing innovation and reinvestment deduction, a taxpayer
must demonstrate to the department a private capital investment
in excess of [sixty million dollars ($60,000,000)] one hundred
million dollars ($100,000,000) ONE MILLION DOLLARS ($1,000,000)
for the creation of new or refurbished manufacturing capacity
within three years of a designated start date.
* * *
(d) (1.1) If the private capital investment is in excess of
[sixty million dollars ($60,000,000), but not more than one
hundred million dollars ($100,000,000)] one million dollars
($1,000,000), but not more than ten million dollars
($10,000,000), the maximum allowable deduction shall be equal to
[thirty-seven and one-half] ten per cent of the private capital
investment utilized in the creation of new or refurbished
manufacturing capacity[. A taxpayer may utilize the deduction in
an amount not to exceed seven and one-half per cent of the
private capital investment utilized in the creation of new or
refurbished manufacturing capacity in any one year of the
succeeding ten tax years immediately following the department's
satisfaction determination and the execution of a satisfaction
commitment letter, up to the maximum allowable deduction.] per
tax year for a period of five years.
(1.2) If the private capital investment [exceeds one hundred
million dollars ($100,000,000)] is in excess of ten million
dollars ($10,000,000), but not more than one hundred million
dollars ($100,000,000), the maximum allowable deduction shall be
equal to [twenty-five] seven and one-half per cent of the
private capital investment utilized in the creation of new or
refurbished manufacturing capacity[. A taxpayer may utilize the
20210SB0288PN0800 - 2 -
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