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Primary Sponsor

Last Action

Ref To Com On Rules and Operations of the Senate2025-03-26

Vote Breakdown

No floor votes recorded.

Plain Language Summary

This bill creates a state income tax credit for investors who put money into small businesses focused on community infrastructure and resilience projects like transportation, utilities, disaster preparedness, and sustainable energy. Investors can claim a 35% tax credit on their investments, up to $100,000 per person per year, with a statewide cap of $5 million in credits annually.

Arguments in Favor

• •Supporters argue this bill incentivizes private investment in critical community infrastructure and resilience projects that might otherwise lack funding, helping small businesses grow while addressing important public needs.
• •The tax credit encourages accredited investors to support businesses working on transportation networks, communications, utilities, disaster preparedness, and sustainable energy—areas that benefit entire communities.
• •It could create jobs and economic development while advancing infrastructure and climate resilience goals.

Arguments Against

• •Opponents may argue that tax credits reduce state revenue needed for other programs and primarily benefit wealthy accredited investors rather than the general public.
• •Concerns also include whether the credit is necessary to attract investment, whether oversight of the Secretary of State's business registration process is sufficient to prevent misuse, and whether the $5 million annual cap is appropriate or whether it should be higher or lower.
• •Some may question whether this approach is the most effective way to fund community infrastructure compared to direct public investment.