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House concurs with Senate changes to Venture Capital Enhancement Act, adds oversight and investment limits

Utah House of Representatives · March 5, 2003

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Summary

The House concurred with Senate amendments to first substitute House Bill 240 (Venture Capital Enhancement Act), approving a quasi‑governmental framework with state auditor oversight, reporting requirements and limits on fund‑of‑fund investments; sponsors said the changes strengthen constitutional fit and attract venture capital to Utah.

The House concurred March 5 with Senate amendments to first substitute House Bill 240, the Venture Capital Enhancement Act, sending the measure back to the Senate for signature.

Representative Wallace, who moved concurrence, described changes made in the Senate to convert the proposed capital investment corporation into a…

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