§ 52-95. Personal property tax - Research and development exemption.

(a) Definitions. In this Section, the following words have the meanings indicated.

(1) Research and development means:

(A) basic and applied research in the sciences and engineering; and

(B) the design, development, and governmentally required pre-market testing of prototypes, products, and processes.

(2) Research and development does not include:

(A) market research;

(B) research in the social sciences or psychology and other nontechnical activities;

(C) routine product testing;

(D) sales services;

(E) technical and nontechnical services; or

(F) research and development of a public utility.

(3) Director means the Director of the Department of Finance or the Director’s designee.

(b) General. Any machinery, equipment, materials, and supplies consumed in or used primarily in research and development are exempt from the County property tax to the extent authorized in this section.

(c) Amount. The exemption is equal to the County property tax imposed on the assessment of the property which exceeds 25% of the original cost of the property.

(d) Applicability. The exemption applies to taxable years beginning July 1, 1996. (1994 L.M.C., ch. 3, § 1; 1996 L.M.C., ch. 3, § 1; , § 1; , § 2.)

Editor’s note—Section 1 of 1994 L.M.C., ch. 3, added a new § 52-18I, which the editor designated as § 52-18H to maintain consistency in the code.