Section 5830b - Tax credits; Entrepreneurs' Seed Capital Fund(a) The initial capitalization of the Entrepreneurs' Seed Capital Fund, as established in 10 V.S.A. § 291, up to $7,150,000.00 raised from Vermont taxpayers on or before January 1, 2020, shall entitle those taxpayers to a credit against the tax imposed by section 5822, 5832, 5836, or 8551 of this title and by 8 V.S.A. § 6014. The credit may be claimed for the taxable year in which a contribution is made and each of the four succeeding taxable years. The amount of the credit for each year shall be the lesser of four percent of the taxpayer's contribution or 50 percent of the taxpayer's tax liability for that taxable year prior to the allowance of this credit; provided, however, that in no event shall the aggregate credit allowable under this section for all taxable years exceed 20 percent of the taxpayer's contribution to the initial $7,150,000.00 capitalization of the Fund. The credit shall be nontransferable except as provided in subsection (b) of this section.(b) If the taxpayer disposes of an interest in the Fund within four years after the date on which the taxpayer acquired that interest, any unused credit attributable to the disposed-of interest is disallowed. This disallowance does not apply in the event of an involuntary transfer of the interest, including a transfer at death to any heir, devisee, legatee, or trustee, or in the event of a transfer without consideration to or in trust for the benefit of the taxpayer or one or more persons related to the taxpayer as spouse, descendant, parent, grandparent, or child.Added 1985, No. 171 (Adj. Sess.), § 2, eff. 5/7/1986; amended 1987, No. 80, § 7, eff. 6/9/1987; 1993, No. 78, § 1; 2003, No. 164 (Adj. Sess.), § 8, eff. 6/12/2004; 2005, No. 184 (Adj. Sess.), § 17b, eff. 5/24/2006; 2009 , No. 54, § 27, eff. 6/1/2009.