Expanding a Special Interest Tax Break

Description

This bill makes modifications to the state’s Angel Investor Tax credit program (a tax credit for wealthy individuals to invest in smaller businesses) by adjusting rules and expanding qualification criteria for businesses under the program. CPAC opposes this bill because it expands a narrow investor tax subsidy and undermines tax reform by levying the cost on taxpayers, and distorts market competition by favoring select businesses. The senate passed the bill on June 8, 2025 by a vote of 34-3, and it later became law.