Startups and emerging technology businesses would likely see increased investments under legislation to boost the Angel Investor Tax Credit program that was released June 17 by the Senate Economic Growth, Senate Budget & Appropriations and Assembly Budget committees.
S-2298 (Corrado, Singleton)/A-5604 (Freiman, Pinkin, Milam) would increase the credit from 10% to 20% of qualified investment in New Jersey emerging technology companies with fewer than 225 employees, 75% of which must be located in the state. For companies that are minority- or woman-owned, or located in a distressed area of the state, the credit could be increased to 25%. Read more here.