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Monday, February 08, 2010
The Senate today (Monday, Feb. 8) presented a $50 million jobs creation bill, one featuring angel investor tax credits and a tax credit for rehabbing historic buildings.
Other features of the proposal, which include provisions dealing with tax increment financing, are similar to a proposal recently offered by the House.
“The idea, of course, is to build buildings and put people back to work,” said Sen. James Metzen, DFL-South St. Paul, Senate Business, Industry and Jobs Committee Chairman, of the legislation.
One aspect of the proposal that Sen. Kathy Saltzman, DFL-Woodbury, lauded is the angel investor tax credit provision — it’s easier for businesses to get a $20 million loan than for start-up businesses to get a $500,000 loan, she said.
posted in: News
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