As MNvest Lags, A New Bill Proposes Extending The Angel Tax Credit To The Masses


Terri BonoffMinnesota Senator Terri Bonoff and a handful of peers have recently introduced SF 2624 as an amendment to the Minnesota Angel Investment Tax Credit (AITC) that dates back to 2010.

The proposed legislation also builds off another bill that was passed into law earlier this year known as MNvest that has been waiting for nine months at the mercy of Mike Rothman at the Minnesota Department of Commerce.  This rulemaking process itself could take up to two years to complete before intrastate crowdfunding is available in the first place.

The intention of SF2624 is to expand the definition of “qualified investor” to those investors who participate in a MNvest offering.

For now, SF 2624 has been referred to the tax committee,  essentially “laid over” as the committee is unsure whether there will be a tax omnibus bill this session.




  • Zach Robins

    Thanks for covering this issue, Jeff. We learned today from the Department of Commerce that the MNvest Rules have been submitted to the Governor’s Office. Still uncertain with respect to timing, but progress nonetheless!

    • Jeff Pesek

      coincidentally right about the same time media started asking questions?