STATEHOUSE (Jan. 20, 2021) — State Sen. Andy Zay (R-Huntington) recently filed Senate Bill 50, which would help bring more private investment dollars to small and growing Hoosier businesses.
SB 50 would expand Indiana's venture capital investment tax credit to cover more types of industries than current state law. While the tax credit is currently available for investments only in industries approved by the Indiana Economic Development Corporation (IEDC), SB 50 would open up the credit to nearly all industries.
Zay says this expansion would create jobs and diversify the employer base in Indiana – which is more critical now than ever because of the hardships small businesses are facing during the COVID-19 pandemic.
"The primary goal of this bill is to hire more Hoosier workers and bring more high-paying jobs to our state," Zay said. "Small businesses are the engine of our economy, and this legislation would create more employment and entrepreneurship opportunities to help get our main streets moving again."
SB 50 has been assigned to the Senate Committee on Tax and Fiscal Policy. To learn more about SB 50, click here.
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For a high-resolution photo of Zay, click here.
