Things could change, but the odds now seem high in favor of Tennessee lawmakers' submitting to Gov. Phil Bredesen a provision that would leverage insurance companies' premium-tax obligations to direct pools of capital toward early-stage ventures based inside the state. A tax-credit would be the incentive vehicle. If it doesn't happen this spring, in our judgment, it's still likely, however it might be modified, before July 1, 2010. See these links for an update on the bill's progress in the General Assembly and a sampling of VC comments.
Friday, May 01, 2009
Venture capital bill advances in TN Gen. Assembly
Things could change, but the odds now seem high in favor of Tennessee lawmakers' submitting to Gov. Phil Bredesen a provision that would leverage insurance companies' premium-tax obligations to direct pools of capital toward early-stage ventures based inside the state. A tax-credit would be the incentive vehicle. If it doesn't happen this spring, in our judgment, it's still likely, however it might be modified, before July 1, 2010. See these links for an update on the bill's progress in the General Assembly and a sampling of VC comments.
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