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."