An Act Concerning The Angel Investor Tax Credit Program And Women-owned Businesses.
Impact
If enacted, the bill will amend section 12-704d of the general statutes, mandating that at least 25% of the annual total of angel investor tax credits be designated for investments in women-owned businesses. This legislative change is expected to not only stimulate financial support for women entrepreneurs but also promote a more inclusive business environment in Connecticut. The envisioned increase in investment opportunities may help to enhance the viability and scalability of women-owned ventures.
Summary
House Bill 5981 focuses on modifying the Angel Investor Tax Credit Program in Connecticut to ensure that a specific percentage of tax credits are allocated to companies investing in women-owned businesses. The bill aims to foster greater investment in female-led enterprises, supporting their growth and development within the state's economy. Such initiatives are pivotal in encouraging entrepreneurial activities among women, addressing historical disparities in funding and support compared to their male counterparts.
Contention
While the bill has received support for its objectives, there may be debates regarding the percentage of tax credits allocated specifically to women-owned businesses, as well as arguments about the broader implications for the Angel Investor Tax Credit Program. Opponents might contend that imposing such mandates could limit the flexibility of tax credits to address varied investment needs across different business sectors. Advocates, however, view this measure as a necessary step to correct systemic imbalances in entrepreneurship funding and support.
An Act Concerning The Department Of Economic And Community Development's Recommendations For Revisions To The Jobsct Program And The Commerce And Related Statutes.