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Key Votes

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

New Jersey Key Votes

Chris Christie signed this Legislation.

Read statements Chris Christie made in this general time period.

Stages

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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

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