ID H0479

Establishes the "Idaho Small Business Venture Capital Investment and Jobs Act" to create a venture capital tax credit promoting institutional funding for small businesses.

Allows a tax credit equal to 50% of Idaho taxable income earned (excluding interest income) from venture capital investments in businesses with 20 or fewer employees.

Makes the venture capital tax credit freely transferable between taxpayers and available to those providing equity capital to new businesses with 20 or fewer employees.

Credits may be carried forward for up to 14 taxable years if they exceed the annual tax limitation, and the full credit amount is subject to recapture if tax incentive criteria are not met.

The act becomes effective retroactively to January 1, 2010, and expires on January 1, 2015, with the Idaho State Tax Commission authorized to enforce and promulgate rules for administration.