The small business investment credit, commonly known as the angel investment credit, was enacted in in 2010 for tax years 2010 through 2014. In 2014 the credit was increased and extended to tax year 2016. The credit was extended in 2017 for the 2017 tax year and has expired as of tax year 2018. 

Tax year     Allocation
 2010            $11 million
 2011            $12 million
 2012            $12 million
 2013            $12 million
 2014            $12 million
 2015            $15 million
 2016            $15 million
  2017            $10 million 

This bill would allocate $20 million each year for the credit and make the credit permanent. The bill repeals provisions for reporting requirements and the commissioner’s audit authority related to the sunset of the credit. These are no longer applicable if the credit is permanent. Effective beginning in tax year 2020.