Introduced
by
To allow the “early stage venture capital investment corporation” created by <a href="http://www.michiganvotes.org/2003-SB-834">Public Act 296 of 2003</a> to use more than one fund management company or person. This entity was created to solicit money from investors for investment in selected companies chosen by the corporation, and may grant tax credits to investors to offset losses. The bill also changes the date by which this entity must be incorporated, and makes the tax credits authorized by Public Act 296 of 2003 non-refundable or carry-forwardable.
Referred to the Committee on Commerce and Labor
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one in which the tax credits authorized by <a href="http://www.michiganvotes.org/2003-SB-834">Public Act 296 of 2003</a> remain refundable or carry-forwardable.
The substitute passed by voice vote
Passed in the Senate 38 to 0 (details)
To allow the “early stage venture capital investment corporation” created by <a href="http://www.michiganvotes.org/2003-SB-834">Public Act 296 of 2003</a> to use more than one fund management company or person. This entity was created to solicit money from investors for investment in selected companies chosen by the corporation, and may grant tax credits to investors to offset losses. The bill also changes the date by which this entity must be incorporated.
Referred to the Committee on Commerce
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Substitute offered
by
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Amendment offered
by
To clarify a repayment provision related to subsidies from the fund to selected businesses.
The amendment passed by voice vote
Passed in the House 102 to 4 (details)
To allow the “early stage venture capital investment corporation” created by <a href="http://www.michiganvotes.org/2003-SB-834">Public Act 296 of 2003</a> to use more than one fund management company or person. This entity was created to solicit money from investors for investment in selected companies chosen by the corporation, and may grant tax credits to investors to offset losses. The bill also changes the date by which this entity must be incorporated.
Passed in the Senate 35 to 0 (details)
To concur with the House-passed version of the bill.
