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06/20/2024 10:26 AM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20210&cosponId=35406
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2021 - 2022 Regular Session

MEMORANDUM

Posted: April 16, 2021 09:49 AM
From: Representative Wendi Thomas
To: All House members
Subject: Startup Investor Tax Credit
 
With our world-renowned educational institutions, talented workforce of researchers, engineers and scientists, and well-established culture of hard work and ingenuity, Pennsylvania is uniquely positioned to be a global leader in startup industries, specifically in the bio-tech space. 
 
To capitalize on this opportunity and to put Pennsylvania on the map for innovation, I will be introducing a bill to create a Startup Investor Tax Credit. This credit will catapult job creation by giving a tax benefit to investors of startup businesses that are headquartered in Pennsylvania.
 
To be eligible, businesses must have a plan to commercialize a new product or ideas and have fewer than 100 employees. Upon approval, my proposal would provide those who invest in qualified startup businesses with a 25% tax credit.
 
If we want to be the Envy of the East, we need encourage innovation and attract the jobs of the future. I hope you will join me in cosponsoring this important legislation.
 
 



Introduced as HB2215