South Carolina House Bill 3787 (Prior Session Legislation)

---

Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: Introduced on March 26 2009 - 25% progression, died in committee
Action: 2009-03-26 - Referred to Committee on Ways and Means HJ-5
Pending: House Ways and Means Committee

A BILL TO AMEND CHAPTER 45, TITLE 11, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE VENTURE CAPITAL INVESTMENT ACT OF SOUTH CAROLINA, SO AS TO INCREASE THE AMOUNT OF PRINCIPAL BORROWING WHICH MAY BE AUTHORIZED BY THE VENTURE CAPITAL AUTHORITY BY FIFTY MILLION DOLLARS AND PROVIDE THAT ONE-HALF MUST BE ALLOCATED TO SC LAUNCH! FOR INVESTMENT IN SOUTH CAROLINA-BASED COMPANIES AND ONE-HALF MUST BE ALLOCATED FOR OTHER INVESTMENTS IN SOUTH CAROLINA COMPANIES ENGAGED IN THE KNOWLEDGE ECONOMY, TO DEFINE "SC LAUNCH!", TO PROVIDE GUIDELINES FOR THESE INVESTMENTS AND CAPITAL COMMITMENTS, AND TO MAKE CONFORMING DEFINITIONAL AND OTHER CHANGES TO GIVE EFFECT TO THESE PROVISIONS.

Increase The Amount Of Principal Borrowing Which May Be Authorized By The Venture Capital Authority By Fifty Million Dollars And Provide That One-half Must Be Allocated To Sc Launch! For Investment In South Carolina-based Companies And One-half Must Be Allocated For Other Investments In South Carolina Companies Engaged In The Knowledge Economy, To Define "sc Launch!", To Provide Guidelines For These Investments And Capital Commitments, And To Make Conforming Definitional And Other Changes To Give Effect To These Provisions.

Rep. Harry Cato [R]	Rep. Daniel Cooper [R]	Rep. Robert Harrell [R]	Rep. Douglas Jennings [D]
Rep. Michael Thompson [R]

Date	Chamber	Action
2009-03-26		Referred to Committee on Ways and Means HJ-5
2009-03-26		Introduced and read first time HJ-5

Type	Source
Summary	https://www.scstatehouse.gov/cgi-bin/web_bh10.exe?bill1=3787&session=118