The General Assembly gave final passage Friday to legislation renewing Georgia’s angel investors tax credit.
The Georgia Senate passed the bill 48-3 and sent it to Gov. Nathan Deal for his signature.
The state House of Representatives passed the legislation unanimously two weeks ago.
Since the tax credit took effect four years ago, 225 qualified startups and early-growth companies have registered with the state Department of Revenue for angel investment dollars.
That money has helped those businesses created more than 200 net new jobs with a payroll of about $10 million.
Many of the new jobs are being generated by incubators at The University of Georgiaand Georgia Tech, said Senate Majority Leader Bill Cowsert, R-Athens.
“This is going to help bring more high-tech, high-paying jobs to Georgia,” added Sen. John Albers, R-Roswell.
The bill will renew the tax credit for three years.
The total dollar value of credits available is capped at $5 million a year. Individual businesses can receive no more than $50,000 annually.