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House approves expansion of state venture-capital tax-credit program
Summary
The House approved first-substitute Senate Bill 11, expanding Utah's 'fund of funds' by raising authorized tax credits and clarifying governance and proprietary-data treatment; the measure passed 69–2 and is returned to the Senate.
The Utah House on Feb. 13 approved first-substitute Senate Bill 11, the Utah Venture Capital Enhancement Act amendments, increasing the maximum tax-credit authorization for the state fund of funds and tightening legal language on financing and data privacy.
Representative Clark, sponsor of the motion to uncircle the bill, told colleagues the legislation has three goals: expand tax-credit capacity from the current $100 million to $300…
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