Requests the Department of Economic Development and the Department of Revenue to develop an incentive package that will make Louisiana the domestic prescription drug manufacturing leader for the United States.
Requests the Louisiana Department of Economic Development to study the feasibility of creating an official "Made in Louisiana" certification, brand, or label.
Medical Manufacturing, Economic Development, and Sustainability Act of 2023 or the MMEDS Act of 2023 This bill provides incentives for relocating medical manufacturing facilities in the United States and for manufacturing medical products (i.e., drugs and devices) in economically distressed zones. Specifically, the bill allows a income tax credit for 40% of the sum of wages paid in a medical manufacturing economically distressed zone, employee fringe benefit expenses, and depreciation and amortization allowances with respect to qualified medical manufacturing facility property, and a credit for economically distressed zone products and services acquired by domestic medical manufacturers. The bill increases the credit rate for minority businesses.
Medical Manufacturing, Economic Development, and Sustainability Act of 2023 or the MMEDS Act of 2023 This bill provides incentives for relocating medical manufacturing facilities in the United States and for manufacturing medical products (i.e., drugs and devices) in economically distressed zones. Specifically, the bill allows a income tax credit for 40% of the sum of wages paid in a medical product manufacturing economically distressed zone, employee fringe benefit expenses, and depreciation and amortization allowances with respect to qualified medical product manufacturing facility property, and a credit for economically distressed zone products and services acquired by domestic medical product manufacturers.. The bill also directs the Department of Health and Human Services to study the extent to which the health of aging individuals and vulnerable populations have been disproportionately harmed by the COVID-19 (i.e., coronavirus disease 2019) pandemic and prior epidemics and pandemics.
Requests evaluation of existing efforts at deterring prescription drug abuse, determination of effectiveness of current efforts, and recommendations on best practices for combating abuse while ensuring access is not restricted for those in need of prescription medications.
Urges and requests the Louisiana Department of Health to study the desirability and feasibility of adopting state policy to provide for review of prescription drug prices in the medical assistance program