HB5675 - Entrepreneur-in-Residence Act

• Creates an Entrepreneur-in-Residence Pilot Program to strengthen coordination between state government and the private sector on small business and entrepreneur issues.

• Establishes up to 10 positions appointed by legislative leaders and the Governor (2 each), plus 5 additional positions appointed by directors of the Departments of Commerce and Economic Opportunity, Transportation, Human Services, Public Health, and Central Management Services.

• Requires appointees to have demonstrated success working with small businesses and entrepreneurs or have successfully developed and commercialized a product.

• Appointees serve without compensation but may receive reimbursement for reasonable and necessary expenses, with terms of 2 years for legislative appointments and 5 years (January 1, 2019 to January 1, 2024) for agency-specific appointments.

• Requires agencies to report by January 1, 2023 on program success measured by number of interactions, new businesses created, business size, and growth since inception; act repeals January 1, 2025.