House Tax Policy Committee Passes Angel Investment Bills

The Michigan Venture Capital Association was pleased to see bi-partisan support for Michigan HBs 5786 & 5787 in an 8-5 vote in the House Tax Policy Committee yesterday.  MVCA now encourages full passage of these crucial bills into law when they reach the House floor.  Angel and venture investors have firmly established their roles in jump-starting and sustaining Michigan’s economic recovery, and we must build on that momentum to create more companies and new jobs in our state.  House bills 5786 & 5787 will provide $6 million over the next five years, with a sunset provision, to encourage early-stage investing in Michigan and help grow the highly innovative, highly potential companies that our members actively support.