SB 12-058 Summary

• Creates a nine-member Venture Capital Advisory Board within the Colorado Economic Development Commission, with members appointed by the Governor (5), Senate President (2), and House Speaker (2) to serve until July 1, 2013.

• Board members must be Colorado residents with experience in venture capital, investment banking, institutional investment, fund management, or banking, and serve without compensation or expense reimbursement.

• Requires the board to submit a report by February 15, 2013 analyzing state-supported venture capital programs from other states, private venture capital investment in Colorado, and recommendations for supporting venture capital investment.

• Board must present findings by March 1, 2013 to the House Economic and Business Development Committee and Senate Business, Labor, and Technology Committee; report also made available on the Colorado Economic Development Commission website.

• The advisory board and this statutory authorization automatically repeal on July 1, 2013.