Alabama HB350 establishes the Angel Investor Tax Credit Act to provide income tax credits for investments in qualified businesses.

Alabama HB350 creates the Angel Investor Tax Credit Act, offering income tax credits to qualified investors for investments in qualified businesses. These businesses must be headquartered in Alabama, have 100 or fewer employees, and be primarily engaged in sectors like manufacturing, technology, or research and development. The act limits credits to $250,000 per investor per tax year and caps total credits at $5 million for 2027, $10 million for 2028, and $12 million for subsequent years.

Alabama HB350 establishes the Angel Investor Tax Credit Act to provide income tax credits for investments in qualified businesses.

Alabama HB350 creates the Angel Investor Tax Credit Act, offering income tax credits to qualified investors for investments in qualified businesses. These businesses must be headquartered in Alabama, have 100 or fewer employees, and be primarily engaged in sectors like manufacturing, technology, or research and development. The act limits credits to $250,000 per investor per tax year and caps total credits at $5 million for 2027, $10 million for 2028, and $12 million for subsequent years.