NV AB427

Eliminates industry-specific restrictions on businesses eligible for private equity funding and venture capital investments from the state's corporation for public benefit, instead requiring businesses to be engaged in industries consistent with the State Plan for Economic Development

Expands eligibility criteria for recipient businesses to include those domiciled in Nevada, headquartered in the state, having significant employees in Nevada, or expanding/relocating to Nevada, while seeking early-stage or middle-stage investments

Replaces the Chancellor of the Nevada System of Higher Education on the corporation's board of directors with the Executive Director of the Office of Economic Development, and reduces the experience requirement for appointed board members from "at least 10 years" to "demonstrated experience"

Authorizes the corporation for public benefit to invest directly in eligible businesses and requires investments to ensure diversification, prioritize businesses that employ Nevada residents, provide high-wage jobs, offer health insurance, and advance environmental sustainability

Removes the requirement that more than 50 percent of private equity funding go to businesses in specified industries, and requires the Office of Economic Development to provide financing information only about programs that are active or funded at the time a small business applies for certification