MN SF2307

Creates a small business investment tax credit allowing qualified taxpayers to claim 25% of investments in certified small businesses, up to $125,000 per year, with credits allocated up to $10 million annually (2010-2011) and $12 million annually (2012+)

Defines eligible small businesses as those with Minnesota headquarters, fewer than 25 employees, under 10 years of operation, and engaged in innovation in high-technology fields, green manufacturing, or specific industries like aerospace, biotechnology, and alternative energy

Requires a 3-year minimum holding period for investments; credit can be revoked if investment is sold early unless the business becomes worthless, 80% of assets are sold, the business is sold, or stock trades publicly

Establishes certification procedures and annual reporting requirements for qualified small businesses, qualified taxpayers, and qualified angel investment network funds, with application fees ranging from $150 to $1,000

Appropriates $100,000 to the commissioner of employment and economic development for fiscal year ending June 30, 2011, to administer the program