Bill Text: CT SB01136 | 2011 | General Assembly | Comm Sub

Connecticut Senate Bill 1136 (Prior Session Legislation)

Bill Title: An Act Lowering The Threshold For Angel Investors.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2011-03-25 - Favorable Change of Reference, House to Committee on Finance, Revenue and Bonding [SB01136 Detail]

Download: Connecticut-2011-SB01136-Comm_Sub.html


General Assembly		*Raised Bill No. 1136*
*January Session, 2011*		LCO No. 2856
		_____SB01136CE_FIN031711____
Referred to Committee on Commerce
Introduced by:
(CE)

AN ACT LOWERING THE THRESHOLD FOR ANGEL INVESTORS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Subsection (b) of section 12-704d of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2011, and applicable to income years commencing on or after January 1, 2011):

(b) There shall be allowed a credit against the tax imposed under this chapter, other than the liability imposed by section 12-707, for a cash investment of not less than [one hundred] twenty-five thousand dollars in the qualified securities of a Connecticut business by an angel investor. The credit shall be in an amount equal to twenty-five per cent of such investor's cash investment, provided the total tax credits allowed to any angel investor shall not exceed two hundred fifty thousand dollars. The credit shall be claimed in the taxable year in which such cash investment is made by the angel investor and shall not be transferable.


This act shall take effect as follows and shall amend the following sections:
Section 1	July 1, 2011, and applicable to income years commencing on or after January 1, 2011	12-704d(b)