Amendment ASA2-SB463

SB463-ASA2,18,25 1. The name and address of the venture capital fund.

SB463-ASA2,19,2 2. The amount of each investment and the amount contributed to the investment by the certified venture capital fund.

SB463-ASA2,19,4 3. The internal rate of return realized by the certified venture capital fund on each investment.

SB463-ASA2,19,7 4. An accounting of any fee the certified venture capital fund paid to itself or any principal or manager of the certified venture capital fund during the preceding year.

SB463-ASA2,19,9 (e) For each business in which a certified venture capital fund held an investment of fund capital during the preceding year, all of the following:

SB463-ASA2,19,10 1. The name and address of the business.

SB463-ASA2,19,11 2. A description of the nature of the business.

SB463-ASA2,19,12 3. The amount of each investment of fund capital in the business.

SB463-ASA2,19,14 4. An identification of the certified venture capital fund that made the investment.

SB463-ASA2,19,19 5. A statement of the number of employees the business employed when the certified venture capital fund first invested in the business, the number of employees the business employed on January 1 of the year preceding the year of the report, and the number of employees the business employed on December 31 of the year preceding the year of the report.

SB463-ASA2,19,21 (f) For each investment of fund capital held by the investment committee in a business under s. 238.435 during the preceding year, all of the following:

SB463-ASA2,19,22 1. The name and address of the business.

SB463-ASA2,19,23 2. A description of the nature of the business.

SB463-ASA2,19,24 3. An identification of the angel investor network.

SB463-ASA2,20,2 4. The amount of the investment and the amount contributed to the investment by the angel investor network.

SB463-ASA2,20,7 5. A statement of the number of employees the business employed when the investment committee first invested in the business, the number of employees the business employed on January 1 of the year preceding the year of the report, and the number of employees the business employed on December 31 of the year preceding the year of the report.

SB463-ASA2,20,8 (g) With respect to grants under s. 238.437, all of the following:

SB463-ASA2,20,10 1. An accounting of the total amount of fund capital the investment committee granted to certified business development organizations during the preceding year.

SB463-ASA2,20,13 2. For each certified business development organization that received a grant from the investment committee during the preceding year, the name and address of the certified business development organization and the amount of the grant.

SB463-ASA2,20,24 3. For each business in which a certified business development organization held an investment of grant moneys during the preceding year, the name and address of the business and a description of the nature of the business and an identification of the certified business development organization that made the investment; the total amount of each investment in the business, including grant moneys and moneys contributed by the certified business development organization or by other funding sources; and a statement of the number of employees the business employed when the certified business development organization first invested grant moneys in the business, the number of employees the business employed on January 1 of the year preceding the year of the report, and the number of employees the business employed on December 31 of the year preceding the year of the report.

SB463-ASA2,21,2 (2) Progress report. In January 2018, the investment committee shall submit a report to the joint committee on finance that includes all of the following:

SB463-ASA2,21,4 (a) A comprehensive assessment of the success to date of the programs administered by the investment committee.

SB463-ASA2,21,8 (b) Any recommendations the investment committee has for improvement of the programs administered by the investment committee and the specific actions the investment committee intends to take or proposes to be taken to implement those recommendations.

SB463-ASA2,21,11 (c) Any recommendations the investment board has for improvement of the programs administered by the investment committee and the specific actions the investment board proposes to be taken to implement those recommendations.

SB463-ASA2,21,17 238.49 Winding up of the investment committee's business. (1) End of business. The secretary of administration shall determine the date that the investment committee satisfies the requirements under sub (2) and shall provide a written notice that states that date to the legislative reference bureau for publication in the Wisconsin Administrative Register. The investment committee may not conduct business of any kind after that date.

SB463-ASA2,21,19 (2) Transfer of assets, property, and contracts. In December 2031, the investment committee shall do all of the following:

SB463-ASA2,21,24 (a) Assign all of the investment committee's assets and any assets of the corporation under this subchapter to the secretary of administration. The secretary of administration shall deposit in the general fund any moneys transferred under this paragraph or generated from contracts or investments assigned to the secretary of administration under par. (c).

SB463-ASA2,22,3 (b) Transfer any tangible personal property owned by the investment committee or owned by the corporation under this subchapter, including records, to the department of administration.

SB463-ASA2,22,7 (c) Assign any contract entered into by the investment committee or entered into by the corporation under this subchapter and any interest in an investment subject to this subchapter that is owned by the investment committee or the corporation to the secretary of administration.

SB463-ASA2,22,8 (End)