The Interim Committee on Commerce and Economic Development seems to have focused almost entirely on the biomedical device industry during their interim meetings. See, this draft final report of the committee. That was the task assigned to it by the Legislative Council. I’m not sure whether they have discretion to go beyond legislative council assignments. They produced this draft resolution urging tax breaks for the biomedical device manufacturers. Specifically, the resolution expresses grumpiness about the federal medical device excise tax. To counter this, the resolution suggests reworking of the patent income tax exemption and the venture capital income tax credit as well as passing a “new markets jobs act providing for a state income tax credit” available to the medical device and biomedical industry.
None of this is necessarily bad policy (maybe it is – I’m just not informed enough to know) or nefarious, but it does give an example of how money begets money. You use your economic influence to get law and policymakers to focus on the well being of your economic interests in a way that’s not available to those with fewer resources.