HB5793 Summary

• Raises the annual limit on total angel investment tax credits from $10 million to $20 million per calendar year.

• Increases the maximum eligible investment per applicant from $2 million to $4 million for each qualified new business venture.

• Maintains a 25% tax credit on investments in qualified new business ventures for taxable years beginning after December 31, 2010 and ending on or before December 31, 2016.

• Expands the definition of qualified businesses to include those undertaking pre-commercialization activity related to proprietary technology, in addition to those principally engaged in innovation.

• Takes effect immediately upon becoming law.