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Senate advances changes to Utah Venture Capital Enhancement Act to make tax credit refundable
Summary
The Senate advanced House Bill 179 to third reading after Sen. Jenkins said the bill exempts certain board-held proprietary information from GRAMA and converts a nonrefundable tax credit into a refundable credit to simplify investor participation in the Utah Fund of Funds.
Sen. Jenkins, floor sponsor, said the Senate advanced House Bill 179, a set of technical and policy changes to the Utah Venture Capital Enhancement Act, to a third reading after floor debate.
The bill would exempt from GRAMA disclosure “specific proprietary information on individual portfolios of companies,” Jenkins said, arguing that public disclosure of trade secrets would deter investment. Jenkins also…
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