Loading chat...

MN HF2654

Bill

Official Source

Status

Introduced

3/5/2012

Primary Sponsor

Tim Mahoney

Click for details

Origin

House of Representatives

87th Legislature 2011-2012

AI Summary

  • Increases the small business investment tax credit allocation to $25,000,000 for taxable years beginning after December 31, 2011, and before January 1, 2013
  • Maintains the $12,000,000 annual credit allocation limit for taxable years beginning after December 31, 2012, and before January 1, 2015
  • Qualified investors and qualified funds remain eligible for a 25 percent tax credit on qualified investments in qualified small businesses
  • Individual caps on total credits remain at $250,000 for married couples filing joint returns and $125,000 for all other filers
  • Effective for taxable years beginning after December 31, 2011

Legislative Description

Small business investment tax credit for 2012 increased.

Last Action

Author added Slocum

3/7/2012

Committee Referrals

Jobs and Economic Development Finance3/5/2012

Full Bill Text

No bill text available