Colorado Medical Device Sales and Use Tax Refund: CBSA, in partnership with the Colorado Cleantech Industry Association (CCIA), will propose the creation of a medical device and clean technology Sales and Use Tax refund for the sale, storage, use or consumption of personal property used in Colorado directly and predominately in research and development. Similar state programs have proven this to be an effective incentive to help cultivate industry sectors and encourage companies to further grow and conduct their research and product development within the state.
Protect the Advanced Industries Accelerator Program: Created by the Colorado General Assembly in 2013, the Colorado Advanced Industries (AI) Accelerator Program will promote the growth and sustainability of seven key industries, including bioscience. Modeled after the Bioscience Discovery Evaluation Grant Program (BDEGP), the AI Accelerator Program established matching grants focused on proof-of-concept research, early-stage capital and retention grants, and infrastructure initiatives to help support the seven industries. The Colorado BioScience Association supports the Colorado AI Accelerator Program and encourages future funding of the program while also not deterring the success seen by the BDEGP.
Substitution of Biosimilar Products in Colorado: Currently, Colorado law does not allow for the substitution of a biosimilar product with an innovator biologic product. CBSA believes legislation is necessary to allow for biosimilars to be substituted for innovator biologics, when deemed interchangeable by the Food and Drug Administration. The CBSA is also supportive of creating sound state policy establishing parameters for safe substitution and interchangeability.
Protection of Intellectual Property: Intellectual property is the lifeblood of the bioscience industry. The protection of a company’s IP and patents are essential to encouraging innovation and the development of new medical technologies and therapies. CBSA will work to ensure that state and its laws are supportive of the development of new innovations and protect the rights of legitimate patent holders.
Food Labeling Policy Requirements: CBSA supports the voluntary, truthful and non-misleading consumer information regarding food labeling, including foods grown with biotechnological processes such as genetically modified seeds. CBSA also supports the current laws and regulations administered by the Food and Drug Administration (FDA) and the U.S. Department of Agriculture (USDA) that require food labeling to be truthful and not misleading. Given the current statutes and regulations already in place by both the FDA and the USDA, and support for such labeling policies by the American Medical Association and the American Association for the Advancement of Sciences, CBSA believes food labeling regulations should be addressed at the federal level and does not support the development of a state-by-state policy labeling framework.