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Internal Revenue Bulletin:  2010-23 

June 7, 2010 


Table of Contents

Notice 2010-45 Notice 2010-45

This notice establishes the qualifying therapeutic discovery project program under section 48D of the Code. Section 9023(a) of the Patient Protection and Affordable Care Act (the Act) added section 48D to the Code as part of the investment credit under section 46. Section 48D provides a nonrefundable tax credit equal to 50 percent of an eligible taxpayer’s qualified investment in a qualifying therapeutic discovery project. Under section 9023(e) of the Act, an eligible taxpayer may elect to receive a grant in lieu of credits. Section 48D(d)(1)(B) limits the total amount of credits or grants to be allocated under the program to $1 billion during the two-year period from 2009 through 2010. The Service, in consultation with the Department of Health and Human Services, will award certifications for qualified investments. The credits or grants will only be available to taxpayers having 250 or fewer full-time and part-time employees.

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