Loading chat...
MN SF2879
Bill
Status
Introduced
3/24/2025
Primary Sponsor
Ann Rest
Click for details
AI Summary
- Increases the maximum prior private equity investment threshold for qualified small businesses from $4,000,000 to $15,000,000
- Extends the required investment holding period from three years to five years for investors to maintain their tax credit eligibility
- Extends the small business investment tax credit program through December 31, 2028, with $10,000,000 in annual credits allocated for taxable years 2025-2028
- Clarifies that the 50% credit allocation reserved for greater Minnesota businesses and minority-owned, women-owned, or veteran-owned businesses applies to any business that qualified under those categories at any time
- All provisions are effective for taxable years beginning after December 31, 2024
Legislative Description
Certain small business investment credit requirements modifications
Last Action
Author added Nelson
4/2/2025
Committee Referrals
Taxes3/24/2025
Full Bill Text
No bill text available