A bill to amend 2003 PA 296, entitled “Michigan early stage venture investment act of 2003,” by amending sections 7, 31, and 33 (MCL 125.2237, 125.2261, and 125.2263), section 7 as amended by 2015 PA 192 and section 31 as amended by 2015 PA 193.
Together, House Bills 5651, 5652, and 5653 would establish the Michigan Innovation Fund, a program that would provide grants to certain venture capital funds and nonprofits to promote venture capital investment. House Bills 5652 and House Bill 5653 would amend the Michigan Early Stage Venture Investment Act and the Michigan Strategic Fund Act, respectively, to create the program and provide for its funding through the Michigan Early Stage Venture Investment Fund (known as the Venture Michigan Fund). HB 5651 is a companion bill that would make complementary changes to the Michigan Trust Fund Act.
Co-sponsored by Reps.
Referred to the Committee on Economic Development and Small Business
Reported with substitute H-1
Substitute H-1 concurred in by voice vote
Substitute H-2 offered
by
The substitute passed by voice vote
Passed in the House 71 to 38 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
