DOVER, Del. (AP) — The state Senate is poised to vote on millions of dollars in tax incentives for DuPont following its planned merger with Dow Chemical.
Senate Executive Committee members spoke glowingly of the legislation Wednesday before releasing it for Thursday's floor vote.
The bill eliminates a $5 million aggregate cap on research and development tax credits and makes the credits refundable.
The bill also restores a never-used new jobs tax credit aimed at getting companies to establish corporate headquarters in Delaware.
The credit would be expanded 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.
