Senate Bill 401
Introduced Senate Bill (S)
DIGEST
Business matters. Establishes the young entrepreneurs program within the business division of the secretary of state. Allows the secretary of state to adopt rules to carry out the young entrepreneurs program. Expands the meaning of "qualified Indiana investment fund" to include certain additional types of funds. Provides that the Indiana economic development corporation (corporation) may certify a fund only if the fund invests based on certain policy criteria. Provides a maximum tax credit for qualified investment funds dedicated to supporting underserved businesses. Specifies conditions under which the corporation may use discretionary funds to make additional awards of credit after it
Business matters. Establishes the young entrepreneurs program within the business division of the secretary of state. Allows the secretary of state to adopt rules to carry out the young entrepreneurs program. Expands the meaning of "qualified Indiana investment fund" to include certain additional types of funds. Provides that the Indiana economic development corporation (corporation) may certify a fund only if the fund invests based on certain policy criteria. Provides a maximum tax credit for qualified investment funds dedicated to supporting underserved businesses. Specifies conditions under which the corporation may use discretionary funds to make additional awards of credit after it
has awarded the maximum amount of credits for a particular calendar year.
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