GOP Sen. Alberta Darling of River Hills and Dem Sen. Tim Cullen of Janesville say neither of them would vote for a version of a proposed venture capital bill that contained certified capital companies, or CAPCOs. But the two are determined to co-sponsor a revised version of the bill before the end of this month that they hope will win bipartisan support in both houses before the end of the legislative session in April.
Although they say they have not yet crafted the bill, it would differ from earlier versions in that it would call for less overall investment -- anywhere from $100 million to $140 million -- compared with $200 million to $500 million in earlier proposals -- and would include stricter oversight and transparency to ensure taxpayers are protected.
A bill that would create a venture capital fund to encourage investment in start-up businesses in Wisconsin failed last spring in Madison, and has been reintroduced in various versions since. Darling and former GOP Sen. Randy Hopper of Fond du Lac had pushed their own version of the bill, which they called the Badger Jobs Now Bill, prior to Hopper being recalled from office in August. Darling survived a recall attempt.
To read the full, original article click on this link: WisBusiness.com: WisBusiness: Senate could have bipartisan venture capital bill by end of the month
