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House approves amendments to Utah Venture Capital Enhancement Act; sponsor says changes clarify structure and protect beneficiaries
Summary
On third reading the House advanced amendments to the Utah Venture Capital Enhancement Act, which clarify board structure and procedures, adjust board terms and contingent tax-credit mechanics, and add technical cleanups and a severability clause; sponsor Representative Wallace urged immediate implementation.
Representative Peggy Wallace urged passage of amendments to the Utah Venture Capital Enhancement Act on the House floor, saying the changes were the product of months of cooperative work with state agencies and impacted industries. She said the bill's revisions fall into three main categories: clarifying the act's structure, procedures and purpose (including contingent tax-credit language, state-ownership limits and designation of…
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