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Heuer’s venture capital tax credit bill passes the House

By Gareth Evans

State Representative Kathy Heuer’s bill to increase the amount of tax credits for investment available to qualified Indiana businesses passed yesterday by a vote of 96 to 0 and will now move to the Senate for consideration.
Heuer, of Columbia City, serves District 83, which includes Whitley, Noble, and Allen counties.
House Bill 1008 would increase the amount of tax credits for investment in qualified Indiana businesses from $500,000 to $1,000,000. Additionally, the bill suspends the $200 application fee that a qualified Indiana business must pay for two years.  A qualified Indiana business is determined by the Indiana Economic Development Corporation (IEDC) for its potential to create jobs, bring significant capital to Indiana, and diversify Indiana’ s business base.
“Passing this bill opens the door to a larger stream of money flowing into our new and growing businesses,” said Heuer. “It will help create jobs and a job- friendly atmosphere to attract new businesses to Northeast Indiana.”
For the 2011 legislative session, Heuer is the vice-chair of the Local Government Committee and a member of the Education Committee and the Commerce, Small Business and Economic Development Committee.

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