Kentucky HB325 amends economic development incentives by modifying the Angel Investor Program.
Kentucky HB325 amends the Angel Investor Program by adjusting the requirements for small businesses, investors, and investments. Small businesses must have a net worth of $10 million or less, be engaged in qualified activities, and have more than 50% of their assets and operations in Kentucky. Investors must be accredited, not hold more than 20% ownership interest in the business, and not be closely related to the business owner. Investments must be at least $10,000 and comply with state and federal securities laws.
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