An effort to increase the funds set aside for Nebraska’s angel investment tax credit from $3 million to $5 million met its match Friday as lawmakers failed to give the bill a first-round approval, according to the Omaha World-Herald. Created in 2011, the program provides tax credits to angel investors who put at least $25,000 into a company. When first pitched by Gov. Dave Heineman in 2011, the state was to allocate $5 million to the program, but by the time it passed, lawmakers capped it at $3 million. State Sen. Pete Pirsch (left), who introduced the new bill, argued higher funding is needed to give the program the best chance at success, noting this year’s credits have all been spoken for already. — Source: Omaha World-Herald
Credits: Photo from ne.gov
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