H680 - Reenact Qualified Business Venture Credit

• Reenacts income tax credits for investments in qualified businesses that were previously repealed, extending the sunset date from January 1, 2014 to January 1, 2025.

• Allows individuals to claim a 25% tax credit on equity securities or subordinated debt investments in qualified businesses, with annual aggregate credits capped at $50,000 per individual.

• Provides a 10% bonus credit increase for investments in diversity businesses located in development tier one or two areas, or in designated qualified opportunity zones.

• Increases the pass-through entity investment capital management threshold from $5,000,000 to $7,500,000 and raises their annual aggregate credit cap from $700,000 to $750,000.

• Establishes registration requirements with the Secretary of State for qualified business ventures, qualified grantee businesses, and qualified licensee businesses, with annual renewal and financial reporting obligations.