Connecticut 2011 Regular Session

Connecticut Senate Bill SB01136 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		General Assembly Raised Bill No. 1136
2	2		January Session, 2011 LCO No. 2856
3		-	_____~~SB01136CE_FIN031711~~____
	3	+	02856_______CE_
4	4		Referred to Committee on Commerce
5	5		Introduced by:
6	6		(CE)
7	7
8	8		General Assembly
9	9
10	10		Raised Bill No. 1136
11	11
12	12		January Session, 2011
13	13
14	14		LCO No. 2856
15	15
16		-	_____~~SB01136CE_FIN031711~~____
	16	+	02856_______CE_
17	17
18	18		Referred to Committee on Commerce
19	19
20	20		Introduced by:
21	21
22	22		(CE)
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24	24		AN ACT LOWERING THE THRESHOLD FOR ANGEL INVESTORS.
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26	26		Be it enacted by the Senate and House of Representatives in General Assembly convened:
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28	28		Section 1. Subsection (b) of section 12-704d of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2011, and applicable to income years commencing on or after January 1, 2011):
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30	30		(b) There shall be allowed a credit against the tax imposed under this chapter, other than the liability imposed by section 12-707, for a cash investment of not less than [one hundred] twenty-five thousand dollars in the qualified securities of a Connecticut business by an angel investor. The credit shall be in an amount equal to twenty-five per cent of such investor's cash investment, provided the total tax credits allowed to any angel investor shall not exceed two hundred fifty thousand dollars. The credit shall be claimed in the taxable year in which such cash investment is made by the angel investor and shall not be transferable.
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35	35		This act shall take effect as follows and shall amend the following sections:
36	36		Section 1 July 1, 2011, and applicable to income years commencing on or after January 1, 2011 12-704d(b)
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38	38		This act shall take effect as follows and shall amend the following sections:
39	39
40	40		Section 1
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42	42		July 1, 2011, and applicable to income years commencing on or after January 1, 2011
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44	44		12-704d(b)
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	46	+	Statement of Purpose:
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	48	+	To reduce the investment threshold required to qualify for angel investor tax credits.
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48		-	CE Joint Favorable C/R FIN
49		-
50		-	CE
51		-
52		-	Joint Favorable C/R
53		-
54		-	FIN
	50	+	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]