(a) Equity investment incentives in the form of tax credits to persons or companies investing in certain types of eligible businesses are created.
(b) The equity investment incentives shall:
(1) Encourage capital investment in certain types of businesses including:
(A) Early-stage businesses and start-up businesses in this state;
(B) Businesses paying wages in excess of prevailing wages in the state or the county where the company is located; and
(C) Businesses that are invested in by venture capital funds and regional or community-based alliance funds; and
(2) Create new jobs.
(c)
(1) An equity investment incentive tax credit is created that shall be equal to thirty-three and one-third percent (331/3%) of the approved amount invested by an investor in an eligible business, as identified in § 15-4-3303(a).
(2) The tax credit, if awarded, is available to the investor.
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