Bill Text: CT HB05211 | 2010 | General Assembly | Introduced

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Bill Title: An Act Establishing An Income Tax Credit For Investments In Connecticut Start-up Businesses.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2010-02-17 - Referred to Joint Committee on Commerce [HB05211 Detail]

Download: Connecticut-2010-HB05211-Introduced.html

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General Assembly		Proposed Bill No. 5211
February Session, 2010		LCO No. 422
Referred to Committee on Commerce
Introduced by:
REP. CANDELORA, 86th Dist. REP. MINER, 66th Dist.

AN ACT ESTABLISHING AN INCOME TAX CREDIT FOR INVESTMENTS IN CONNECTICUT START-UP BUSINESSES.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That chapter 229 of the general statutes be amended to provide a credit against the income tax for cash investments in Connecticut start-up businesses. Such credits shall equal twenty-five per cent of the cash investment, provided no credit shall exceed one hundred twenty-five thousand dollars.

Statement of Purpose:

To establish tax credits for angel investors who invest in qualified Connecticut start-up businesses.