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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 3, 2013.
Small Business Investment Enhancement and Tax Relief Act - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to establish and carry out an early-stage investment program (program) to provide, through participating investment companies, equity financing to support early-stage businesses (gross annual sales of $15 million or less in any of the previous three years). Outlines investment company application requirements and selection procedures. Allows the Administrator to make one or more equity financings to a participating company, with a limit of $100 million to any one company. Requires the company to make all of their investments in small businesses, of which at least 50% shall be early-stage small businesses. Establishes in the Treasury a separate fund for equity financings under the program.
Amends the Internal Revenue Code to provide a small business investment tax credit of 20% of the amount paid or incurred for small business investments. Directs the Secretary of the Treasury to conduct a study of the effectiveness of the tax credit in providing incentives for investment in small businesses.