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House Bill 1462

House Bill 1462

ARCHIVE (2013)

Latest Information

DIGEST OF HB 1462 (Updated February 6, 2013 5:17 pm - DI 51)

Economic development. Permits a venture capital investment tax credit that has been certified by the Indiana economic development corporation to be applied against tax liability when the qualified investment capital is provided regardless of whether the total amount of tax credits applied by all taxpayers in a particular calendar year exceeds $12,500,000. Permits the office of community and rural affairs to designate an applicant rural county as a rural entrepreneurship area development incentives area. Provides for the distribution of adjusted gross income taxes annually paid by employees working in an area for a new business and by the new business itself to the rural county for the development of new business opportunities in the rural county, including transfers to local or regional venture capital funds. Limits the amount that may be distributed to a particular county in any year to $500,000.
Current Status:
In Committee - first House
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