Rep. Heuer Bill Passes House

Rep. Heuer's Venture Capital Tax Credit Bill Passes the House

STATEHOUSE- Rep. Heuer's (R-Columbia City) bill to increase the amount of tax credits for investment available to qualified Indiana businesses passed yesterday by a vote of 96 to 0 and will now move to the Senate for consideration.

House Bill 1008 would increase the amount of tax credits for investment in qualified Indiana businesses from $500,000 to $1,000,000. Additionally, the bill suspends the $200 application fee that a qualified Indiana business must pay for two years.  A qualified Indiana business is determined by the Indiana Economic Development Corporation (IEDC) for its potential to create jobs, bring significant capital to Indiana, and diversify Indiana' s business base.

"Passing this bill opens the door to a larger stream of money flowing into our new and growing businesses," said Rep. Heuer. "It will help create jobs and a job- friendly atmosphere to attract new businesses to Northeast Indiana."

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Rep. Heuer serves District 83, which includes Whitley, Noble, and Allen counties. For the 2011 legislative session, Rep. Heuer is the vice-chair of the Local Government Committee and a member of the Education Committee and the Commerce, Small Business and Economic Development Committee.