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May a Health Maintenance Organization invest in a TNInvestco as a participating investor and receive an allocation of investment tax credits?

April 26, 2017allocation Health invest investor maintenance organization tax credits tninvestco

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May a Health Maintenance Organization invest in a TNInvestco as a participating investor and receive an allocation of investment tax credits?

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A participating investor must be an insurance company that is required to pay the gross premiums tax pursuant to Tenn. Code Ann. § 56-4-205. Therefore, if an entity is subject to the gross premiums tax under any other section of the Tennessee Code, then it is not eligible to invest in a TNInvestco as a participating investor and cannot receive an allocation of investment tax credits.