MN SF3866

Extends the small business investment credit program for one year, with credits available for taxable years beginning after December 31, 2018, and before January 1, 2020.

Maintains the $10,000,000 annual credit allocation limit for qualified investors and qualified funds, with 50 percent reserved for investments in greater Minnesota businesses and minority- or women-owned qualified small businesses.

Requires qualified investors to receive a 25 percent tax credit on qualified investments in qualified small businesses, subject to individual caps of $250,000 for married couples and $125,000 for other filers.

Extends sunset provisions and reporting requirements related to credit revocation through 2021 for qualified investors and funds, through 2023 for qualified small businesses, and extends subdivision 9 reporting requirements through 2024.

Applies to investments made within 60 days of credit allocation, with a three-year holding period required to maintain credit eligibility unless specific exceptions apply such as business sale or public offering.