fy20budget

NJ governor signs bills to expand angel investment tax credits, fund TBED

New Jersey Gov. Phil Murphy signed multiple bills late last month that may help position the state as a leader in technology-based economic development. One bill increases the tax credit for angel investors in qualified technology companies, with even larger credits available for investments in women- and minority-owned businesses and those located in low-income areas. Meanwhile, the state’s approved FY 2020 budget includes $1.0 million for the New Jersey Commission on Science, Innovation, and Technology. After nearly a decade of receiving no funding from the state, this marks the second consecutive year that the commission will receive $1.0 million to support technology-based economic development.

House passes robust budgets for science, entrepreneurship

The U.S. House has now passed 10 of the 12 annual appropriations bills that fund federal agencies. Agencies with House-approved budgets include the Department of Commerce, Department of Energy, National Institutes of Health, National Science Foundation, and Small Business Administration. Federal R&D and Commerce’s Regional Innovation Strategies would see substantial increases, and — due to amendments made on the House floor — SBA’s accelerators and clusters programs would retain their funding.

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