Quantum research tax incentives.
Quantum research tax incentives. Amends the state sales and use tax exemption for data centers to include projects for investments in a quantum computing research, advanced computing, and defense infrastructure network that result in a minimum qualified investment within five years of at least $50,000,000.
This bill, HB1601, proposes to amend the state sales and use tax exemption for data centers to include investments in quantum computing research, advanced computing, and defense infrastructure networks, provided there is a minimum qualified investment of at least $50 million within five years. This change aims to incentivize businesses to invest in cutting-edge technologies by reducing their tax burden on qualifying projects.
The bill affects businesses planning to invest in quantum computing, advanced computing, and defense infrastructure. By providing tax exemptions for significant investments, the bill aims to make these high-tech projects more financially attractive, potentially leading to job creation and technological advancement in these fields.
As of May 1, 2025, the bill has been passed and signed into law. Key milestones include its introduction on January 21, 2025, its passage through the House and Senate with various amendments, and its final approval by the Governor. This bill represents a concerted effort to foster innovation in quantum computing and related technologies within the state.
