More good news for Biotech in the Health Care Reform Legislation

Most people have been focusing on the 12 year Data Exclusivity afforded by the Health Care Reform Bill. But Forbes magazine has a great article regarding a part of the Health Care Reform bill that is not getting a lot of discussion.
In the article, the authors state:

Buried in the recently passed health reform package is a provision that provides an unusual and tremendous benefit to small and mid-sized (under 250 employees) biotech firms and their investors. This extraordinary gift from Congress (courtesy of a push by Sens. Robert Menendez, D-N.J.; Maria Cantwell, D-Wash.; and John Kerry, D-Mass.) provides a 50% tax credit for qualified biotech investments for tax years 2009 and 2010, or a grant for the same amount tax-free.
Thus a biotech company that has a tax liability can see its tax bill slashed and a business that has no tax liability can receive a nontaxable grant for the same amount. Bottom line: With this new provision a biotech business can look to put big money in its pocket immediately. Your business makes a qualified investment of $1 million and it gets a $500,000 tax credit or a $500,000 check from Uncle Sam. Wow.

This could prove to be a phenomenal boon to the industry.....