Bulletin No. 2010-23 June 7, 2010

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.