To amend the Internal Revenue Code of 1986 to allow a credit against income tax for equity investments in high technology small business concerns.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Creating Jobs From Innovative Small Businesses Act of 2013''.
SEC. 2. CREDIT FOR INVESTMENTS IN SMALL TECHNOLOGY INNOVATION COMPANIES.
(a) In General.--Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:
``SEC. 45S. HIGH TECHNOLOGY INVESTMENT TAX CREDIT.
``(a) Allowance of Credit.--For purposes of section 38, the high technology investment tax credit determined under this section for the taxable year is an amount equal to 20 percent of the amount paid by the taxpayer during such year to acquire a qualified equity investment in a qualified high technology small business concern. ``(b) Maximum Credit.-- ``(1) In general.--The taxpayer's credit determined under this section for the taxable year shall not exceed the excess (if any) of-- ``(A) $100,000, over ``(B) the taxpayer's (and any predecessor's) aggregate credit determined under this section for all prior taxable years. ``(2) Related parties.-- ``(A) In general.--For purposes of paragraph (1), all related persons shall be treated as 1 person, and the dollar amount in paragraph (1)(A) shall be allocated among such persons under regulations prescribed by the Secretary. ``(B) Related persons.--A person...