Changes

==Feedback on the Innovation Promotion Act==

Executive Summary

The Act, as written has a broad scope in terms of qualified property and gross receipts, and has three potential normative economic justifications.

The first normative economic justification is in stimulating innovation. Other Acts (Patent Act, R&D tax credits, etc.) share this justification. This Act’s incentives are not sufficiently orthogonal and are less clearly coupled to desired activity as compared with pre-existing legislation that this economic justification would likely be better pursued by extending pre-existing legislation or developing new legislation.