HOUSE BILL NO. 517
INTRODUCED BY J. MANGAN
AN ACT CLARIFYING THAT THE SMALL BUSINESS INVESTMENT INCENTIVE ACT IS INTENDED TO ATTRACT PRIVATE RISK CAPITAL TO TECHNOLOGY, TECHNOLOGY INFRASTRUCTURE, AND POWER GENERATION COMPANIES AS WELL AS MANUFACTURING, AGRICULTURE, AND TIMBER PRODUCT PROCESSING COMPANIES; AND AMENDING SECTION 15-33-102, MCA.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 15-33-102, MCA, is amended to read:
"15-33-102. Purpose. The purpose of this part is to encourage private
sector investment in venture capital firms called small business investment
companies, which that are organized for the purpose of diversifying and
strengthening employment opportunities of companies within Montana. This
part, by establishing limited tax exemptions, demonstrates a recognition by
the legislature that significant incentives must be offered to attract private risk
capital to manufacturing, technology, technology infrastructure, power
generation, agricultural, and timber product processing companies when the
alternative investments for private risk capital are natural resource ventures,
which often yield extremely high rates of return. The legislature further
recognizes the necessity of tax incentives for investors in manufacturing,
technology, technology infrastructure, power generation, agricultural, and
timber product processing companies, given the hardship caused many
Montana communities by their reliance on an economic base dominated by
single, large industries."
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Latest Version of HB 517 (HB0517.ENR)
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