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Senate Bill 0405


Senate Bill 0405

ARCHIVE (2000)

Latest Information

 

DIGEST OF SB 405 (Updated February 16, 2000 7:21 PM - DI 101)


Local certified equity pools. Provides a tax credit against the state tax liability of an investor in a local certified equity pool. Specifies that the tax credit is equal to 40% of a portion of the money, called restricted capital, invested by a local certified equity pool in qualified Indiana businesses. Requires the Indiana development finance authority to operate a program to certify local certified equity pools. Sets standards for certification of a local certified equity pool. Establishes requirements for investments made by a local certified equity pool. Establishes limitations on the amount of tax credits that may be allocated to local certified equity pools and claimed by investors.
    Current Status:
     In Committee - 2nd House
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