US SB973 | 2015-2016 | 114th Congress

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on April 16 2015 - 25% progression, died in committee
Action: 2015-04-16 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Angel Tax Credit Act Amends the Internal Revenue Code to allow a new business-related tax credit for 25% of equity investments of $25,000 or more in a domestic corporation or partnership that: (1) has its headquarters in the United States, (2) has gross revenues for the taxable year of less than $1 million, (3) employs fewer than 25 full-time employees, (4) has been in existence for less than 7 years as of the date of the investment, (5) has more than 50% of its employees performing substantially all of their services in the United States, and (6) is engaged in a high technology trade or business. Limits the allowable amount of such credit to $250,000 in any taxable year and imposes an overall limitation on such credit of $500 million for each of calendar years 2015 through 2019.

Tracking Information

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Title

Angel Tax Credit Act

Sponsors


History

DateChamberAction
2015-04-16SenateRead twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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