Del. bill could have impact on small tech companies

House Bill 170 is making its way through the Delaware legislature and it could have an impact on small tech companies.

The bill provides a refundable tax credit to "Angel Investors," or those who invest in start-up companies.

The tax credit would equal up to 25 percent of their investment, up to $250,000 of annual credit for joint filing couples, and $125,000 to all other Angel Investors.

The total annual cap available to all investors is $5 million annually for 2018 and 2019.

"This legislation would encourage investments in innovative, Delaware-based small businesses and connect our most talented entrepreneurs with the resources they need to be successful," said Governor Carney.

"If we in the state are serious about fostering economic development in Delaware, and I believe we are, then the Angel Investor Job Creation and Innovation Act must take effect sooner rather than later," said Representative Michael Ramone, the bill's primary sponsor. "The funding that would be available through this legislation is critical in helping scientific or technology small businesses get off the ground and begin operating. This will be the second time we have tried to enact such a measure. I introduced a similar bill last year and I am hopeful, that with the Governor's support this year, we can enact this important bill."