HF 3142

FIRST ENGROSSMENT

State Board of Investment encouraged to make certain of its venture capital investments in Minnesota businesses, and report required.

Section 1: Minnesota venture capital investments language is added. The board must attempt to ensure that at least one percent of the value of its private equity investments are in venture capital businesses, a majority of whose employees are in Minnesota. The board must present a report to the legislature regarding compliance.

Section 2: Effective date is provided.

SNA 2/28/08