At an institution lauded for its research and innovation, Gov. John Hickenlooper signed into law a bill that legislators hope will foster development of businesses focused on the new energy and technology economies.
Joined Monday by about 60 representatives from Colorado State University, the city of Fort Collins and several tech-focused businesses at CSU’s Engines and Energy Conversion Laboratory, Hickenlooper put his signature to House Bill 1045, the Colorado Innovation Investment Tax Credit.
The new law expands an existing program. In spring 2009, the Legislature approved a bill sponsored by Rep. John Kefalas, D-Fort Collins, which offers a tax credit to “angel” investors in startup companies focused primarily on research and development of new technologies. Those who invested at least $25,000 in a company five years or younger would receive a 15 percent tax credit, not to exceed $20,000.
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