Chapter
Tennessee Small Business Investment Company Credit Act
- Tenn. Code Ann. § 4-28-101— Short title
- Tenn. Code Ann. § 4-28-102— Chapter definitions
- Tenn. Code Ann. § 4-28-103— Participating investor’s investment tax credit — Limits — Payment of retaliatory tax not required — Credits against other taxes
- Tenn. Code Ann. § 4-28-104— Standardized format for qualification — Qualification requirements — Determination of satisfaction of requirements — Issuance of certification or refusal — Submission of applications
- Tenn. Code Ann. § 4-28-105— Standardized format for TNInvestco to apply for investment tax credits — Information required in applications — Submission of irrevocable investment commitments — Penalty for failure to perform — Review of applications — Criteria — Aggregate amount of investment tax credits to be allocated — Deadline for approval
- Tenn. Code Ann. § 4-28-106— Maintaining certification — Penalty for failure to meet performance measures — Request for written determination that proposed investment will qualify as a qualified investment in a qualified business or a seed or early stage investment
- Tenn. Code Ann. § 4-28-107— Restrictions on insurance companies and their affiliates
- Tenn. Code Ann. § 4-28-108— Distributions from qualified TNInvestco
- Tenn. Code Ann. § 4-28-109— Payment of profit share percentage — Transfers from the general fund to the Tennessee rural opportunity fund and the small and minority owned business assistance program fund — Distribution of investment returns — Minimizing any related federal tax obligation
- Tenn. Code Ann. § 4-28-110— Report by TNInvestco — Annual, nonrefundable certification fee — Satisfaction of the requirements of § 4-28-106(a)(1) — Key persons
- Tenn. Code Ann. § 4-28-111— Annual review — Summary of findings — Curing noncompliance
- Tenn. Code Ann. § 4-28-112— Annual report
- Tenn. Code Ann. § 4-28-113— Investment stategy scorecard — Annual review — Compliance — Written findings
- Tenn. Code Ann. § 4-28-114— Maintenance of website
- Tenn. Code Ann. § 4-28-115— Liquidation of remaining state ownership interests — Method — Approval by treasurer