Sellers Pre-Files Obamacare Mitigation Bill
(Columbia, SC) State Representative Bakari Sellers yesterday pre-filed a economic development bill (H.4365) in the General Assembly that would make South Carolina more attractive to companies that manufacture medical devices and lessen the burden of some provisions the Affordable Care Act (Obamacare).
“The federal government has created far too many impediments for businesses to grow and prosper. It is time to lessen the regulatory burden on companies not increase it,” said Rep. Sellers.
Seller’s bill would allow a company developing or manufacturing medical devices in the state – a state income tax credit equal to 100% of the fees paid by the company to the United States Food and Drug Administration (FDA). The fees must accompany applications for FDA approval of media devices. The bill also allows unused such credits to be transferred and used by others in exchange for specific minimum amounts of private financial assistance paid to the transferring company for its use in developing its business.
“It is my hope that by creating this kind of ‘pro economic development’ and ‘anti-regulatory’ environment, South Carolina can attract more manufacturing companies which in turn will bring in good high-paying jobs,” said Sellers.
Sellers plans on aggressively pushing the bill when the General Assembly returns to Columbia next month.
Rep. Sellers is from Denmark, SC and represents House District 90 which covers parts of Bamberg, Barnwell and Colleton Counties. He is a member of the House Judiciary Committee and also a candidate for Lt. Governor.
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