Legislation

Allowing a credit against the State income tax for 50% of an investment made in a qualified innovation business, not to exceed $50,000, or $100,000 for a qualified investor that is a married couple filing jointly or a pass-through entity; requiring a qualified investor to meet certain requirements in order to be eligible for the credit; requiring the Department of Commerce to administer the credit; applying the Act to taxable years beginning after December 31, 2020; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: HB0360

Bill File Type: Pre-Filed

Effective Date(s): July 1, 2021

Bill imposes a mandated appropriation in the annual State Budget Bill

History

Legislation History
Chamber Senate Calendar Date 10/16/2020 Legislative Date 10/16/2020 Action Pre-filed Proceedings
Chamber Senate Calendar Date 1/13/2021 Legislative Date 1/13/2021 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 12/22/2020 Legislative Date 12/22/2020 Action Hearing 1/21 at 11:00 a.m. Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Income Tax - Angel Investor Tax Credit Program Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	10/16/2020	10/16/2020	Pre-filed
Senate	1/13/2021	1/13/2021	First Reading Budget and Taxation
Senate	12/22/2020	12/22/2020	Hearing 1/21 at 11:00 a.m.
			Text - First - Income Tax - Angel Investor Tax Credit Program

File Code

Subjects

Statutes