Rep. Heuer's Venture Capital Tax Credit Bill Moves to the Senate

Thursday, March 24, 2011 7:00 pm

Start Date:  3/24/2011  All Day  
End Date:  3/24/2011    
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Rep. Heuer's Venture Capital Tax Credit Bill Moves to the Senate Floor

 

STATEHOUSE- Rep. Heuer's (R-Columbia City) bill to increase the amount of tax credits for investment available to qualified Indiana businesses passed out of Senate Committee on Commerce and Economic Development by a vote of 8 to 0 and will now move to the Senate floor for debate.

 

House Bill 1008 increases 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."