AB 110

This bill creates an income and franchise tax credit for contributions made by

a business entity to a pediatric cancer research institution. The bill requires the

institution to use the contribution exclusively and directly for pediatric cancer

research and defines a “pediatric cancer research institution” as a hospital or an

institution of higher education located in this state that is actively conducting

pediatric cancer research, as certified by the secretary of health services.

Under the bill, the maximum amount of the credit that an entity may claim in

any taxable year is $2,500,000. If the amount of the credit exceeds the entity's tax

liability, the entity does not receive a refund but, instead, may claim the remaining,

unused credit against the entity's tax liability in subsequent years.