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Legislative Update: April 16, 2019

Posted By Administration, Tuesday, April 16, 2019
Our reporting on the Jobs & Economic Development Omnibus Bills has not changed. The Senate has higher funding levels for MIF and JCF along with specific transfer authority to allow for use of unused MIF Funds for Redevelopment projects.

The Legislature began the Easter/Passover break last Friday – returning on Tuesday, April 23. The Jobs Bills are scheduled to be presented on the House and Senate floor upon their return.

Another item we have been tracking is the Angel Investment Tax Credit. The House Omnibus Tax Bill includes $10,00,000 to renew this business finance tool. The description in the House Tax Bill Summary is as follows:
“Allocates $10 million to the small business investment credit (aka “angel credit”) for tax years 2019 and 2020 and reduces the investment threshold for certain targeted businesses.”

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