2015 House Bill 4196 / Public Act 193

Repeal government “venture capital investment” program

Introduced in the House

Feb. 13, 2015

Introduced by Rep. Mike McCready (R-40)

To move forward from 2054 to 2030 the expiration of a state “early stage venture capital investment corporation,” which pledges future tax revenue to guarantee investor returns on certain types of investments. See also House Bills 4195 and 4365.

Referred to the Committee on Commerce and Trade

March 24, 2015

Reported without amendment

With the recommendation that the substitute (H-3) be adopted and that the bill then pass.

April 15, 2015

Passed in the House 108 to 2 (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 move forward from 2054 to 2030 the expiration of a state “early stage venture capital investment corporation,” which pledges future tax revenue to guarantee investor returns on certain types of investments. See also House Bills 4195 and 4365.

Received in the House

Oct. 29, 2015

Nov. 4, 2015

Passed in the House 102 to 5 (details)

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

Signed by Gov. Rick Snyder

Nov. 16, 2015