2015 House Bill 4101 / Public Act 86

Try to "buy-back" state venture capital investment guarantees

Introduced in the House

Jan. 28, 2015

Introduced by Rep. Al Pscholka (R-79)

To provide a template or "place holder" for a potential supplemental multidepartment appropriation for Fiscal Year 2014-2015. This bill contains no appropriations, but may be amended at a later date to include them.

Referred to the Committee on Appropriations

March 25, 2015

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

May 12, 2015

Amendment offered by Rep. Al Pscholka (R-79)

To allow the funds allocated for this effort to be carried forward into the next fiscal year without needing a new appropriations.

The amendment passed by voice vote

May 14, 2015

Passed in the House 107 to 1 (details)

To appropriate $45 million for an effort to buy-back at a discount some $50 million worth of investor return guarantees the state gave out under an "early stage venture capital investment" scheme authorized by a 2003 law.

Received in the Senate

May 19, 2015

Referred to the Committee on Appropriations

June 11, 2015

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Passed in the Senate 38 to 0 (details)

To appropriate $45 million for an effort to buy-back at a discount some $50 million worth of investor return guarantees the state gave out under an "early stage venture capital investment" scheme authorized by a 2003 law.

Received in the House

June 11, 2015

Passed in the House 109 to 0 (details)

Signed by Gov. Rick Snyder

June 23, 2015