Search Form
Now choose a category »

Key Votes

S 581 - Establishes Tax Credits for Investors in Small Business Technology - Key Vote

New Jersey Key Votes

Peter Barnes III voted Yea (Passage) on this Legislation.

Read statements Peter Barnes III made in this general time period.

Stages

Family

Issues

Stage Details

Legislation - Signed (Executive) -

Title: Establishes Tax Credits for Investors in Small Business Technology

Vote Smart's Synopsis:

Vote to pass a bill that establishes tax credits for investors in emerging technology businesses, beginning tax years after January 1, 2012.

Legislation - Bill Passed (House) (47-30) - (Key vote)

Title: Establishes Tax Credits for Investors in Small Business Technology

Vote Smart's Synopsis:

Vote to pass a bill that establishes tax credits for investors in emerging technology businesses, beginning tax years after January 1, 2012.

Highlights:
  • Establishes tax credits for investors in New Jersey emerging technology businesses for 10 percent of the investment, effective for tax years beginning after January 1, 2012 (Secs. 3 - 5).
  • Defines “New Jersey emerging technology business” as a high-technology company with fewer than 225 employees, of whom at least 75 percent are filling a position in New Jersey, and that is doing business in New Jersey (Sec. 2).
  • Requires a New Jersey emerging technology business to meet at least 1 of the following criteria (Sec. 2):
    • The company is conducting research in New Jersey;
    • The company conducts pilot scale manufacturing in New Jersey; or
    • The company conducts technology commercialization in New Jersey in the fields of:
      • Advanced computing or materials;
      • Life science;
      • Biotechnology; or
      • Technology for information, medical devices, electronic devices, mobile communications, or renewable energy.
  • Limits the maximum allowed tax credits per investment in New Jersey high-technology businesses to $500,000 for each tax year (Secs. 3 & 4).
  • Limits the cumulative total of tax credits issued each year for investments in New Jersey high-technology businesses to $25 million (Sec. 3).
Legislation - Bill Passed (Senate) (33-0) - (Key vote)

Title: Establishes Tax Credits for Investors in Small Business Technology

Legislation - Introduced (Senate) -

Title: Establishes Tax Credits for Investors in Small Business Technology

Sponsors

Co-sponsors

Skip to top
Back to top