Nebraska legislature close to passing Angel Investment Tax Credit ActMarch 4, 2011 by Danny Schreiber
State legislators this morning were close to passing the Nebraska Angel Investment Tax Credit Act, which would create the state’s first angel investment tax credit for investments of more than $25,000 for qualified individuals and $50,000 for qualified funds.
The bill on the verge of being passed has undergone one significant change from what Tom Chapman, the director of innovation and entrepreneurship for the Greater Omaha Chamber of Commerce, outlined in an article last month. The total cap for the program has been lowered from $5 million per year to $3 million.
Another part of the bill that some expected to change — the percentage of a qualified investment an investor or fund is eligible to receive as a refundable credit — now looks likely to remain intact. Chapman told Silicon Prairie News by phone this morning that the refundable percentage will probably stay at 40% rather than being reduced to 25% — a development that’s considered a victory for proponents of the bill.
To learn more about the Angel Investment Tax Credit, see our previous posts on the topic: