SAINT PAUL, MN -- On Monday Representative Ron Kresha, R-Little Falls, officially introduced HF933, a bill with wide bipartisan support and a number of DFL co-sponsors that would promote existing tax credits to businesses in Greater Minnesota.
"Far too few small businesses in Greater Minnesota are taking advantage of these angel investment tax credits," Kresha said. "In 2010 and 2011, just 10% of the businesses who received the tax credits were from Greater Minnesota. These tax credits were designed to boost businesses in all of Minnesota, not just the seven-county Metro area. Greater awareness of the tax credits available to eligible small businesses means more jobs for Greater Minnesota."
The bill was referred to the Jobs and Economic Development Finance and Policy Committee, where it awaits further action. Kresha said he expects the Senate companion to be introduced in the coming days by Senator Paul Gazelka, R-Nisswa.