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DIGEST OF SB380 (Updated February 5, 2002 5:34 PM - DI 84)
Venture capital tax credit. Provides that a taxpayer that provides qualified investment capital to a qualified Indiana business is entitled to a credit against the taxpayer's state tax liability equal to 20% of the amount of the investment. Provides that the amount of credits allowed each year may not exceed $10,000,000. Provides that a taxpayer is not entitled to a credit for providing qualified investment capital to a qualified Indiana business after December 31, 2007.
