2015 House Bill 4195 / Public Act 192

Limit some government “venture capital investment” spending

Introduced in the House

Feb. 13, 2015

Introduced by Rep. Al Pscholka (R-79)

To prohibit the state from pledging any more future tax revenue to guarantee investor returns under an "early stage venture capital investment" program authorized by a 2003 law. The bill would not affect several other government "venture capital" schemes however, including a "Venture Capital Development" program under the Granholm-era "21st Century Jobs Fund" rubric, a "Venture Match Fund," a "Venture Development Fund," an “Accelerator Fund,” past grants to a "Venture Capital Association" and more.

Referred to the Committee on Commerce and Trade

March 24, 2015

Reported without amendment

With the recommendation that the substitute (H-2) be adopted and that the bill then pass.

April 15, 2015

Passed in the House 107 to 3 (details)

Received in the Senate

April 16, 2015

Referred to the Committee on Economic Development

Sept. 29, 2015

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Oct. 29, 2015

Passed in the Senate 36 to 0 (details)

To prohibit the state from pledging any more future tax revenue to guarantee investor returns under an "early stage venture capital investment" scheme authorized by a 2003 law. The bill would not affect several other government "venture capital" schemes however, including a "Venture Capital Development" program under the Granholm-era "21st Century Jobs Fund" rubric, a "Venture Match Fund," a "Venture Development Fund," an “Accelerator Fund,” past grants to a "Venture Capital Association" and more.

Received in the House

Oct. 29, 2015

Nov. 4, 2015

Passed in the House 101 to 6 (details)

To concur with the Senate-passed version of the bill.

Signed by Gov. Rick Snyder

Nov. 16, 2015