The Technology Association of Georgia Applauds Passage of VC Bill
Legislation will create Invest Georgia Fund and extend Angel Investor Tax Credits.
ATLANTA (March 28, 2013) –The Technology Association of Georgia (TAG) today celebrated final passage of House Bill 318 which would extend state tax credits to “angel investors” through 2015 and create a $100 million venture capital fund in Georgia.
The Invest Georgia Fund, which cleared the House 135-28 earlier this week, would be phased in over five years, with most of the money back-loaded into the final two years. The Georgia Senate has also earmarked $10 million in the fiscal 2014 state budget to jump-start the fund. The bill now goes to Governor Nathan Deal’s desk for his signature.
Passage of the bill represents a true victory for TAG which has worked over the years to cultivate and support impactful initiatives that help strengthen Georgia’s Technology Sector. “Many Southeastern states already have state-supported or public-private venture fund vehicles,” says Tino Mantella, TAG President and CEO. “Thanks to our Legislature, we now have the tools needed to organically grow our tech businesses and keep them in Georgia.”
For more information Technology Legislation in Georgia, please see TAG’s Capitol Update.
Learn more about Georgia’s Angel Investor Tax Credit here.