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CT HB05116

Bill

Official Source

Status

Introduced

2/10/2010

Primary Sponsor

Andrew Fleischmann

Click for details

Origin

House of Representatives

2010 General Assembly

AI Summary

  • Establishes a tax credit equal to 25% of cash investments made by angel investors in qualified Connecticut businesses, capped at $125,000 per investor
  • Commissioner of Economic and Community Development compiles list of Connecticut businesses eligible to receive investments qualifying for tax credits
  • Aggregate tax credits reserved cannot exceed $10 million in any single fiscal year
  • Unused tax credits may be carried forward for up to five subsequent taxable years until fully utilized
  • Designed to increase entrepreneurial activity in Connecticut by incentivizing investments in newly established businesses

Legislative Description

An Act Establishing Tax Credits For Angel Investors.

Last Action

Referred to Joint Committee on Commerce

2/10/2010

Committee Referrals

Commerce2/10/2010

Full Bill Text

No bill text available