General Assembly Raised Bill No. 1136
January Session, 2011 LCO No. 2856
*_____SB01136CE_FIN031711____*
Referred to Committee on Commerce
Introduced by:
(CE)
General Assembly
Raised Bill No. 1136
January Session, 2011
LCO No. 2856
*_____SB01136CE_FIN031711____*
Referred to Committee on Commerce
Introduced by:
(CE)
AN ACT LOWERING THE THRESHOLD FOR ANGEL INVESTORS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
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 Subsection (b) of section 12-704d of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2011, and applicable to income years commencing on or after January 1, 2011):
(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.
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2011, and applicable to income years commencing on or after January 1, 2011 12-704d(b)
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2011, and applicable to income years commencing on or after January 1, 2011
12-704d(b)
CE Joint Favorable C/R FIN
CE
Joint Favorable C/R
FIN