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Funding bill for the Montana capital equity investment act – Update HB34. Your support is requested

Good news all around. Rep. Keane’s funding bill for the capital equity investment act was heard yesterday in appropriations. Funding for the act is also in the Governors budget, which was reviewed for the first time yesterday morning as well by an appropriations subcommittee. Both had good hearings.

HB34 http://laws.leg.mt.gov/pls/laws07/LAW0203W$BSRV.ActionQuery?P_BLTP_BILL_TYP_CD=HB&P_BILL_NO=34&P_BILL_DFT_NO=&P_CHPT_NO=&Z_ACTION=Find&P_SBJ_DESCR=&P_SBJT_SBJ_CD=&P_LST_NM1=&P_ENTY_ID_SEQ=

Webb, The auditors office, and myself provided testimony in the 34 hearing. Larry from Lygocyte provide written testimony. You may submit testimony on the issue direct to the committee, or pass it along to myself or Webb and we’ll get it to the committee. Support for either form of funding vehicle (gov budget or hb34 or both) can’t hurt.

The governor’s budget item does include additional funding for a "test case" to determine unconstitutionality, an "issue" that appeared shortly after the end of last session.

Regardless, funding for the board, staff, and operation is in play one way or another. It will be up to the legislature to determine which amount and in what format it proceeds.

Thanks to Andy Poole from DOC, who presented at the subcommittee for doc and provided information & was available for questions at the 34 hearing.

Jeff Mangan

Mountain Peaks Inc.

406.453.6784

922 1st Ave. No. Ste. 1

Great Falls, MT

MPI Home

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2007 Montana Legislative Session Information

http://laws.leg.mt.gov/pls/laws07/LAW0200W$.startup

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States Expanding High Tech Businesses – Thirty-six states run venture capital funds that have encouraged economic development through early support for local businesses. http://www.matr.net/article-19062.html

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