Establishes business franchise and personal income tax credits for capital investments made in certain small businesses

This bill creates a tax credit for small businesses making capital investments in qualifying locations. It provides a 25% credit against business franchise tax (not personal income tax) on qualified investments, for businesses located in villages or cities with under 35,000 residents. To qualify, a business must employ fewer than 15 people and make eligible capital investments. Unused credit amounts can be carried forward to future tax years, but cannot reduce tax below the minimum amount specified in existing tax law.