Missouri Angel Investment Incentive Act Summary

• Establishes the Missouri Angel Investment Incentive Act to encourage seed-capital financing for emerging Missouri businesses developing innovative technologies, products, and services through tax credits for qualified investors.

• Provides a tax credit equal to 50% of a qualified investor's cash investment in qualified Missouri businesses, with maximum credits of $50,000 per business per natural person investor and $250,000 total per investor per year.

• Creates a program administered by Missouri Small Business and Technology Development Centers (SBTDC) to designate and certify qualified Missouri businesses that meet criteria including having less than $5 million in annual gross revenues, operating less than 5 years (10 years for bioscience), and possessing innovative technology or services.

• Requires qualified Missouri businesses to convey a 2% equity interest to the Department of Economic Development and maintain annual financial reporting; businesses that relocate operations outside Missouri within 10 years lose their designation and must repay financial assistance.

• Sets total tax credits at $6 million for 2014-2015, increasing by 20% annually thereafter, with the program expiring on December 31, 2023; credits are not allowed for investments made after that date.