Act will entice investors who invest in Montana companies with tax credits

In the investment world, Montana is known as a "fly-over state."

"Venture capitalists fish where the fish are, and that’s mostly urban areas," said Rep. Joe McKenney, R-Great Falls, one sponsor of a bill intended to lure some deep-pocket investors to Montana.

The bill cleared its last legislative hurdle this week and is on its way to Gov. Brian Schweitzer for his signature.

SB133 creates the Montana Equity Capital Investment Act. It authorizes the state to essentially guarantee lenders a return if they sink money into Montana companies.

Investors that don’t receive a guaranteed profit will become eligible for state tax credits.

By JARED MILLER
Tribune Capitol Bureau

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