,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #abb  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,janu>y #c1 #bjac ,mr4
 ,holt introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to all[ a cr$it aga9/    
income tax = equity inve/m5ts 9 high    
te*nology small bus9ess conc]ns4  #a4   
,%ort title ,?is ,act may be cit$ z !   
,creat+ ,jobs ,f ,innovative ,small     
,bus9esses ,act ( #bjac4  #b4 ,cr$it =  
inve/m5ts 9 small te*nology innovation  
companies  7a7 ,9 g5]al ,subp>t ,d ( "p 
,,iv ( sub*apt] ,a ( *apt] #a ( !       
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new section3  
#de,s4 ,high te*nology inve/m5t tax     
cr$it  7a7 ,all[ance ( cr$it ,= purposes
 ( section #ch1 ! high te*nology        
inve/m5t tax cr$it det]m9$ "u ?is       
section = ! taxable ye> is an am\nt     
equal to #bj p]c5t ( ! am\nt paid by !  
taxpay] dur+ su* ye> to acquire a       
qualifi$ equity inve/m5t 9 a qualifi$   

high te*nology small bus9ess conc]n4    
7b7 ,maximum cr$it  7#a7 ,9 g5]al ,!    
taxpay]'s cr$it det]m9$ "u ?is section =
 ! taxable ye> %all n exce$ ! excess 7if
 any7 (--  7,a7 #ajj1jjj1 ov]  7,b7 !   
taxpay]'s 7& any pr$ecessor's7 aggregate
 cr$it det]m9$ "u ?is section = all     
prior taxable ye>s4  7#b7 ,relat$ p>ties
  7,a7 ,9 g5]al ,= purposes ( p>agraph  
7#a71 all relat$ p]sons %all be treat$ z
 #a p]son1 & ! doll> am\nt 9 p>agraph   
7#a77;,a7 %all be allocat$ among su*    
p]sons "u regulations prescrib$ by !    
,secret>y4  7,b7 ,relat$ p]sons ,a p]son
 %all be treat$ z relat$ to ano!r p]son 
if ! relation%ip betwe5 su* p]sons w\ld 
result 9 ! disall[ance ( losses "u      
section #bfg or #gjg7;b74  7c7          
,def9itions ,= purposes ( ?is section-- 
7#a7 ,qualifi$ equity inve/m5t  7,a7 ,9 
g5]al ,! t]m qualifi$ equity inve/m5t   
means any equity inve/m5t 9 a qualifi$  
high te*nology small bus9ess conc]n if--
  7i7 su* inve/m5t is acquir$ by !      
taxpay] at its orig9al issue 7directly  

or ?r\gh an und]writ]7 solely 9 ex*ange 
= ca%1 &  7ii7 su* inve/m5t is designat$
 = purposes ( ?is section by su* conc]n4
  7,b7 ,equity inve/m5t ,! t]m equity   
inve/m5t means--  7i7 any /ock 7o!r ?an 
nonqualifi$ pref]r$ /ock z def9$ 9      
section #cea7;g77#b77 9 an entity :i* is
 a corporation1 &  7ii7 any capital     
int]e/ 9 an entity :i* is a p>tn]%ip4   
7,c7 ,r$emptions ,a rule simil> to !    
rule ( section #abjb7;c77#c7 %all apply 
= purposes ( ?is subsection4  7#b7      
,qualifi$ high te*nology small bus9ess  
conc]n ,! t]m qualifi$ high te*nology   
small bus9ess conc]n means1 ) respect to
 any taxable ye>1 any small bus9ess     
conc]n 7z def9$ 9 section #c ( ! ,small 
,bus9ess ,act7 if--  7,a7 su* conc]n    
employs an av]age ( few] ?an #ejj       
employees on bus9ess days dur+ su* ye>1 
&  7,b7 at lea/ #ej p]c5t ( ! gross     
exp5ditures ( su* entity = su* ye> are  
rese>* or exp]im5tal exp5ditures "u     
section #agd4  7d7 ,national limitation 
on am\nt ( inve/m5ts designat$  7#a7 ,9 

g5]al ,!re is a high te*nology inve/m5t 
tax cr$it limitation = ea* cal5d> ye>4  
,su* limitation is--  7,a7 #ejj1jjj1jjj 
= #bjac1  7,b7 #gej1jjj1jjj = #bjad &   
#bjae1 &  7,c7 #a1jjj1jjj1jjj = #bjaf & 
#bjag4  7#b7 ,allocation ( limitation ,!
 limitation "u p>agraph 7#a7 %all be    
allocat$ by ! ,secret>y among qualifi$  
high te*nology small bus9ess conc]ns    
select$ by ! ,secret>y4  7#c7 ,c>ryov] (
 unus$ limitation ,if ! high te*nology  
inve/m5t tax cr$it limitation = any     
cal5d> ye> exce$s ! aggregate am\nt     
allocat$ "u p>agraph 7#b7 = su* ye>1 su*
 limitation = ! succe$+ cal5d> ye> %all 
be increas$ by ! am\nt ( su* excess4 ,no
 am\nt may be c>ri$ "u ! prec$+ s5t5ce  
to any cal5d> ye> aft] #bjbc4  7e7      
,c]ta9 taxpay]s n eligible ,no cr$it    
%all be det]m9$ "u ?is section = any    
equity inve/m5t 9 any qualifi$ high     
te*nology small bus9ess conc]n made by  
any individual :o1 at ! "t ( ! inve/m5t1
 is--  7#a7 an employee ( su* conc]n1 or
  7#b7 a memb] ( ! family 7)9 ! mean+ ( 

section #bfg7;c77#d77 ( an employee (   
su* conc]n4  7f7 ,basis r$uction ,!     
basis ( any qualifi$ equity inve/m5t    
%all be r$uc$ by ! am\nt ( any cr$it    
det]m9$ "u ?is section ) respect to su* 
inve/m5t4 ,?is subsection %all n apply =
 purposes ( sections #abjb1 #adjj;,b1 & 
#adjj;,f4  7g7 ,regulations ,! ,secret>y
 %all prescribe su* regulations z may be
 appropriate to c>ry out ?is section1   
includ+ regulations--  7#a7 :i* prev5t !
 abuse ( ! purposes ( ?is section1  7#b7
 :i* impose appropriate report+         
requirem5ts1 &  7#c7 :i* apply !        
provisions ( ?is section to newly =m$   
entities4  4  7b7 ,cr$it made "p ( g5]al
 bus9ess cr$it ,subsection 7b7 ( section
 #ch ( su* ,code 7relat+ to curr5t ye>  
bus9ess cr$it7 is am5d$ by /rik+ plus at
 ! end ( p>agraph 7#ce71 by /rik+ !     
p]iod at ! end ( p>agraph 7#cf7 & ins]t+
 1 plus1 & by add+ at ! end ! foll[+ new
 p>agraph3  7#cg7 ! high te*nology      
inve/m5t tax cr$it det]m9$ "u section   
#de,s4  4  7c7 ,cl]ical am5dm5t ,! table

 ( sections = subp>t ,d ( "p ,,iv (     
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by add+ at ! end ! foll[+ new     
item3  ,sec4 #de,s4 ,high te*nology     
inve/m5t tax cr$it44  7d7 ,effective    
date ,! am5dm5ts made by ?is section    
%all apply to inve/m5ts made aft]       
,decemb] #ca1 #bjab1 9 taxable ye>s end+
 aft] su* date4