H 69 ANGEL INVESTMENT CREDIT CHANGES

Rep Linda Serrato

Actions: HPREF [2] HCEDC/HTRC-HCEDC [3] DP/a-HTRC

Scheduled: Not Scheduled

 House Bill 69 (HB 69) makes two changes to the Angel Investment Credit (credit): increases annual aggregate cap and extends the delayed repeal by five years. 

 House Bill 69 (HB 69) makes changes in the Angel Investment Credit (credit). The aggregate cap for all credits per calendar year is increased from $$2 million to $5 million. The delayed repeal to qualify for the credit by making an investment is extended from 2025 to 2030. 

 For tax years beginning 2015 through 2025, the credit amount per investment is 25% of amount invested up to $62,500 and the taxpayer may make five qualified investments per tax year. The aggregate annual cap is $2,000,000. Unused credit may be carried forward for five consecutive years. 

 02/01/2023 House Commerce & Economic Development Committee amends House Bill 69 (HB 69 HCEDCa)

HB 69 HCEDCa strikes the provision that allowed the Angel Investment Credit to be refundable. Any credit that exceeds tax liability can be carried forward five consecutive years.