prs_may_4_99.htm

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<title>Prs May 4 99</title>
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<h1></font><font face="Times New Roman" size="5"><strong>Press Release<br>
</strong></font><font face="Times New Roman" SIZE="3"><img src="pa_bar.jpg" width="600" height="10"></font><font FACE="Arial" SIZE="3"></h1>

<blockquote>
  <div align="left"><table border="0" cellpadding="2" width="478">
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      <td width="1">Bill to Make Research Tax Credits Permanent Would Benefit Universities,
      Industry, and the U.S Economy, Says President of the National Association of State
      Universities and Land-Grant Colleges<p></font></b></i><font FACE="Arial" size="2">May 5,
      1999, Washington, DC&#151;A bill to make permanent a federal tax credit for research and
      development is &quot;enlightened legislation&quot; that will encourage industry to form
      increased partnerships with universities for the research critical to future economic
      progress, says C. Peter Magrath, President of the National Association of State
      Universities and Land-Grant Colleges (NASULGC).</p>
      <p>The measure, the Private Sector Research and Development Investment Act of 1999, was
      introduced by New Mexico Senators Pete Domenici (R) and Jeff Bingaman (D) on May 4; a
      companion measure was introduced in the House of Representatives by Reps. Heather Wilson
      (R-NM) and Harold Ford, Jr. (D-TN). Other sponsors include Senators Bill Frist (R-TN),
      Joseph Lieberman (D-CT) and Olympia Snowe (R-ME) and Rep. Joe Skeen (R-NM).</p>
      <p>Besides giving companies increased ability to plan future research--by making permanent
      a tax credit that traditionally has been authorized for limited periods--the measure would
      grant a flat 20-percent tax credit to companies for the costs of contracts with
      universities for basic research. A 20-percent tax credit also would be available for
      payments for research performed by consortia. The measure would allow a 100-percent tax
      credit for the expenses of contracts for applied research at universities, up from the
      present 65-percent limit. Other provisions of the bill would make it easier for small
      businesses to use the credit, particularly start-up companies.</p>
      <p>&quot;Yes, this legislation would be good for universities. Yes, it would be good for
      American business. But above all that, it would be good for the United States. The country
      needs both strong business and strong universities because we all need the work done in
      technology, in materials science, in engineering and other fields that keeps our economy
      moving,&quot; said Magrath at a Capitol Hill news conference held by Senators Domenici and
      Bingaman to announce the bill.</p>
      <p>&quot;The stock market is great as long as it is going up, but to continue that pattern
      we have to encourage the kind of investment in research that we know has kept productivity
      growing and the economy expanding,&quot; added Magrath.</p>
      <p>In a joint letter to Senator Domenici prior to the introduction of the legislation,
      NASULGC and the National Coalition for Advanced Manufacturing--a non-profit group
      representing companies, trade associations, universities, and laboratories--noted that
      partnerships between business and universities &quot;facilitate a more efficient pooling
      of national resources and allow multiple institutions to share the costs and risks of
      longer term research and development projects. In addition, these partnerships are making
      an enormous contribution to the education of scientists, engineers and skilled
      technicians.&quot;</p>
      <p ALIGN="CENTER"># # #</p>
      <p ALIGN="right">CF/#144</p>
      <p ALIGN="RIGHT">05/05/99</p>
      <p>NASULGC is a voluntary association of 202 public state universities and land-grant
      colleges located in all 50 states, the U. S. territories and the District of Columbia. One
      of the association&#146;s priorities is encouraging strong partnerships among public
      universities and the federal government, state government, business, and other elements of
      the higher-education community.</font><font FACE="Arial" SIZE="3"><i><b></td>
    </tr>
  </table>
  </div>
</blockquote>

<p><font face="Times New Roman" size="2"><em>For additional information contact Cheryl
Fields&nbsp; in the Office of Public Affairs at 202-478-6042, fax 202-478-6046, or click
here to e-mail:&nbsp; <a href="mailto:cfields@nasulgc.org">cfields@nasulgc.org</a></em></font></p>
</b></i>

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	<body stylesrc="http://www.nasulgc.nche.edu/background.htm">
	<i><b><font FACE="Arial" SIZE="3">

	<h1></font><font face="Times New Roman" size="5"><strong>Press Release<br>
	</strong></font><font face="Times New Roman" SIZE="3"><img src="pa_bar.jpg" width="600" height="10"></font><font FACE="Arial" SIZE="3"></h1>

	<blockquote>
	<div align="left"><table border="0" cellpadding="2" width="478">
	<tr>
	<td width="1">Bill to Make Research Tax Credits Permanent Would Benefit Universities,
	Industry, and the U.S Economy, Says President of the National Association of State
	Universities and Land-Grant Colleges<p></font></b></i><font FACE="Arial" size="2">May 5,
	1999, Washington, DCA bill to make permanent a federal tax credit for research and
	development is "enlightened legislation" that will encourage industry to form
	increased partnerships with universities for the research critical to future economic
	progress, says C. Peter Magrath, President of the National Association of State
	Universities and Land-Grant Colleges (NASULGC).</p>
	<p>The measure, the Private Sector Research and Development Investment Act of 1999, was
	introduced by New Mexico Senators Pete Domenici (R) and Jeff Bingaman (D) on May 4; a
	companion measure was introduced in the House of Representatives by Reps. Heather Wilson
	(R-NM) and Harold Ford, Jr. (D-TN). Other sponsors include Senators Bill Frist (R-TN),
	Joseph Lieberman (D-CT) and Olympia Snowe (R-ME) and Rep. Joe Skeen (R-NM).</p>
	<p>Besides giving companies increased ability to plan future research--by making permanent
	a tax credit that traditionally has been authorized for limited periods--the measure would
	grant a flat 20-percent tax credit to companies for the costs of contracts with
	universities for basic research. A 20-percent tax credit also would be available for
	payments for research performed by consortia. The measure would allow a 100-percent tax
	credit for the expenses of contracts for applied research at universities, up from the
	present 65-percent limit. Other provisions of the bill would make it easier for small
	businesses to use the credit, particularly start-up companies.</p>
	<p>"Yes, this legislation would be good for universities. Yes, it would be good for
	American business. But above all that, it would be good for the United States. The country
	needs both strong business and strong universities because we all need the work done in
	technology, in materials science, in engineering and other fields that keeps our economy
	moving," said Magrath at a Capitol Hill news conference held by Senators Domenici and
	Bingaman to announce the bill.</p>
	<p>"The stock market is great as long as it is going up, but to continue that pattern
	we have to encourage the kind of investment in research that we know has kept productivity
	growing and the economy expanding," added Magrath.</p>
	<p>In a joint letter to Senator Domenici prior to the introduction of the legislation,
	NASULGC and the National Coalition for Advanced Manufacturing--a non-profit group
	representing companies, trade associations, universities, and laboratories--noted that
	partnerships between business and universities "facilitate a more efficient pooling
	of national resources and allow multiple institutions to share the costs and risks of
	longer term research and development projects. In addition, these partnerships are making
	an enormous contribution to the education of scientists, engineers and skilled
	technicians."</p>
	<p ALIGN="CENTER"># # #</p>
	<p ALIGN="right">CF/#144</p>
	<p ALIGN="RIGHT">05/05/99</p>
	<p>NASULGC is a voluntary association of 202 public state universities and land-grant
	colleges located in all 50 states, the U. S. territories and the District of Columbia. One
	of the associations priorities is encouraging strong partnerships among public
	universities and the federal government, state government, business, and other elements of
	the higher-education community.</font><font FACE="Arial" SIZE="3"><i><b></td>
	</tr>
	</table>
	</div>
	</blockquote>

	<p><font face="Times New Roman" size="2"><em>For additional information contact Cheryl
	Fields  in the Office of Public Affairs at 202-478-6042, fax 202-478-6046, or click
	here to e-mail:  <a href="mailto:cfields@nasulgc.org">cfields@nasulgc.org</a></em></font></p>
	</b></i>

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	[<a href="http://www.nasulgc.org/Kellog">Kellogg Commission on the Future of State and
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