GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

H	1 

HOUSE BILL 1027

Short Title:  State Treasurer Venture Capital.	(Public)

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Sponsors: Representative Owens.

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Referred to:  Commerce, if favorable, Finance.

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April 21, 1997

A BILL TO BE ENTITLED
AN ACT TO STIMULATE SUBSTANTIAL GROWTH OF VENTURE CAPITAL INVESTMENTS IN NORTH CAROLINA THROUGH INVESTMENTS BY THE STATE TREASURER.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 147-69.2(b)(10) reads as rewritten:
"(10)	A limited partnership interest in a partnership whose primary purpose is to invest in venture capital or corporate buyout transactions, not to exceed one hundred thirty million dollars ($130,000,000) from all funds."
Section 2.  G.S. 96-5(g) is repealed.
Section 3.  This act becomes effective July 1, 1997.