A04618

Establishes business franchise and personal income tax credits for capital investments made in certain small businesses.

Amends the tax law to establish business franchise and personal income tax credits for capital investments made in certain small businesses. The credit is equal to 25% of the sum of qualified investments in the small business, as determined by the commissioner. The credit can be carried over to the following year or years and may be deducted from the tax for those years. The credit applies to small businesses located in a village or a city with a population of less than 35,000, employing less than 15 employees.