Delaware House fast tracks DuPont tax incentives bill
DOVER, Del. (AP) — A bill offering millions of dollars in tax incentives for DuPont following its planned merger with Dow Chemical is being fast-tracked in the state House.
The bill cleared a House committee Wednesday, and lawmakers planned to suspend rules Thursday for a floor vote.
The measure cleared the Senate last week with no debate.
The bill eliminates a $5 million aggregate cap on research and development tax credits and makes the credits refundable. It also restores a never-used new jobs tax credit and expands it to include jobs retained after a corporate restructuring.
Dow and DuPont already have said the headquarters of spin-off agricultural and specialty products businesses will be located in Delaware.
The bill is expected to cost taxpayers $3.5 million in fiscal 2018 and $10.6 million in fiscal 2019.
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