New Venture Investment Incentive Act

New Venture Investment Incentive Act - Amends the Internal Revenue Code to allow individual taxpayers an income tax deduction for purchases of stock in a new venture corporation. Limits the amount of such deduction to $15,000 in a taxable year ($30,000 for joint returns).

Defines a "new venture corporation" as any small business corporation which is less than five years old and which conducts any trade or business other than securities, real estate, banking or insurance, leasing, or providing professional services.

Specifies certain requirements for the sale of stock in such venture corporations, including: (1) the total value of all stock of such a corporation may not exceed $250,000; (2) majority stockholders may not qualify for the tax deduction; (3) only new stockholders may qualify for the tax deduction; (4) the proceeds from the sale of any stock must be used in the trade or business or the corporation; and (5) stock purchased in a new venture corporation may not be transferred for three years after the date of purchase. Specifies rules for the recapture of tax benefits upon the sale or early disposition of stock in a new venture corporation.