Montana Economic developers hoping to include bill regarding The Montana Equity Capital Investment Act (SB 133) in special session

Some Montana economic developers want to shoehorn another bill into the special legislative session on school funding slated for next week.

Gov. Brian Schweitzer has said he would veto anything that doesn’t address school funding or public-employee pension funds that comes out of the session, said spokeswoman Sarah Elliott.

But legislators from both parties have said they would support a measure to fund Senate Bill 133, which was signed into law last session without funding.

The bill created the Montana Equity Capital Investment Act. The funding request is for $228,000; the money would help raise $60 million in private cash to be invested in Montana businesses.

Montana is in sore need of equity funding, said Liz Marchi of JobsNow in Kalispell http://www.dobusinessinmontana.com .

Venture capital investment in the United States in the first three quarters of 2005 totaled $16 billion and involved 2,150 deals. Only one was in Montana.

Start-up money is a critical area in Montana economic development, Marchi said.

“This is an effort to attract those high-value jobs. We have the lowest unemployment in 30 years, but our wages are still down at the bottom. What’s wrong with this picture?” Marchi said.

By ROBERT STRUCKMAN of the Missoulian

Full Story: http://missoulian.com/articles/2005/12/10/news/mtregional/news05.txt

The Montana Equity Capital Investment Act (SB 133) Needs Your Support to be Effective. The solution could be implemented during the upcoming Legislative Special Session. http://www.matr.net/article-17251.html

Please contact your legislator: http://leg.state.mt.us/css/sessions/59th/roster.asp?HouseID=0&SessionID=88