Increase Cap Angel Investor Tax Credit (language only)
Item 3-6.04 #1h
Item 3-6.04 #1h | | | |
Adjustments and Modifications to Fees |
Qualified Equity and Subordinated Debt Investment Tax Credit |
Language
Page 492, line 8, after "2012," insert:
"and before December 31, 2012,"
Page 492, line 9, after "$4,000,000." insert:
"For taxable years beginning on or after January 1, 2013, and before December 31, 2013 the amount of the Qualified Equity and Subordinated Debt Investment Tax Credit available under § 58.1-339.4, Code of Virginia, shall be limited to $4,500.000. For taxable years beginning on or after January 1, 2014, and before December 31, 2014 the amount of the Qualified Equity and Subordinated Debt Investment Tax Credit available under § 58.1-339.4, Code of Virginia, shall be limited to $5,000.000."
Explanation
(This amendment increases the annual issuance cap on credits through the Qualified Equity and Subordinated Debt Investments Tax Credit, also known as the angel investor tax credit, to $4.5 million for tax year 2013 and to $5.0 million for tax year 2014.)