|Posted:||December 3, 2020 11:22 AM|
|From:||Senator Scott Martin|
|To:||All Senate members|
|Subject:||Pediatric Cancer Research Tax Credit|
|In the near future, I will reintroduce Senate Bill 74 in an effort to take another vital step towards curing pediatric cancer.
This legislation will allow companies to apply to the Department of Revenue for a tax credit which they may utilize for that taxable year after making an eligible donation to a Pennsylvania pediatric cancer research hospital. Over 10 years, at an annual limit of $10 million, we have an opportunity to contribute $100 million towards pediatric cancer research.
More children die from cancer than any other disease and currently, only 4% of National Cancer Institute research dollars are spent on pediatric cancer. Since 1975, pediatric cancer incidence rates have increased every year and more needs to be done to protect and save our children.
Recently, the legislature has taken critical steps to support children and families affected by this terrible disease by promoting pediatric cancer research with the passage of Act 73 of 2018 and Act 39 of 2017. I ask my colleagues to continue the fight against pediatric cancer by co-sponsoring this legislation and working with me to get this bill through both chambers and onto the Governor’s desk.
Introduced as SB74