|to Appropriations & Revenue (H)
|AN ACT relating to the angel investor tax credit.
|Bill Request Number
|A. Simpson, J. Adams, M. Denham, C. Embry Jr., K. Hall, T. Kerr, K. King, M. King, A. Koenig, J. Richards, B. Rowland, S. Westrom, A. Wuchner
|Summary of Original Version
|Create new sections of Subchapter 20 of KRS Chapter 154 to establish the angel investor tax credit program for certain investments in small businesses; define terms; state Act's title and purposes; list requirements for small businesses and investors to qualify for participation; require the Kentucky Economic Development Finance Authority (KEDFA) to establish the application process; cap the total amount of angel investor and Kentucky Investment Fund Act tax credits available in all years at $40,000,000; require KEDFA to maintain a Web site listing all businesses and investors certified and all credits awarded; require small businesses to report annually and allow for tax credit recapture in certain circumstances; amend KRS 152.20-255 to provide that the total amount of tax credits available in the Kentucky Investment Fund Act program and the angel investor program is $40,000,000 in all years; create a new section of KRS Chapter 141 to establish the credit; amend KRS 141.0205 to provide the ordering of the credit.
|Index Headings of Original Version
Economic Development - Angel investor tax credit program, creation of
Economic Development - Enhanced incentive counties, angel investments in
Economic Development - Kentucky Investment Fund Act, credit cap, amendment of
Science and Technology - Angel investments in knowledge-based businesses, tax credit for, creation of
Small Business - Angel investments in small businesses, tax credit for, creation of
Taxation - Angel investor tax credit program, creation of
Taxation, Income--Individual - Angel investor tax credit program, creation of
Last updated: 8/27/2019 6:52 PM (EDT)