Bill Would Create 30 Percent Tax Credit for Manufacturing Pharmaceuticals, Medical Devices in Certain Opportunity Zones

Friday, May 29, 2020 - 3:45pm

Rep. Buddy Carter, R-Ga., introduced a proposal that includes the creation of a tax credit for pharmaceutical manufacturers that operate in certain opportunity zones (OZs). The Manufacturing API, Drugs and Excipients (MADE) in America Act (H.R. 6930) would create a tax credit worth 30 percent of the qualified production activity expenditures for manufacturing pharmaceutical and medical devices in OZs that had a poverty rate in excess of 30 percent for the calendar year before the enactment of the legislation.