HB 725 (BR 2212) - B. Montell
AN ACT relating to job creation and small business development.
Create new sections of subchapter 10 of KRS Chapter 154 to authorize the Economic Development Partnership Board to issue zero-coupon discount bonds and provide loan guarantees for master venture funds; authorize the Economic Development Cabinet to establish the small business venture capital fund as a restricted agency account, subject to appropriations from the Kentucky General Assembly for the fund; establish, for the small business venture capital fund, a cap of $4.2 billion; establish a distribution system, administered by the Economic Development Cabinet, of up to eight venture funds, which are authorized to distribute to at least 50 smaller venture funds to promote and invest in business ventures in Kentucky.
Feb 27-introduced in House
Feb 28-to Economic Development (H)