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Key Votes

SB 75 - Investment in Private Equity Firms - Key Vote

Nevada Key Votes

Steven Horsford voted Yea (Passage) on this Legislation.

Read statements Steven Horsford made in this general time period.

Stages

Family

Issues

Stage Details

Legislation - Signed (Executive) -

Title: Investment in Private Equity Firms

Legislation - Concurrence Vote Passed (Senate) -
Legislation - Bill Passed With Amendment (House) (28-14) -
Legislation - Bill Passed (Senate) (12-9) -
Note:

NOTE: THIS VOTE RECONSIDERS A PREVIOUS VOTE.

Legislation - Bill Passed (Senate) (13-8) - (Key vote)

Title: Investment in Private Equity Firms

Vote Smart's Synopsis:

Vote to pass a bill that authorizes the State Treasurer to invest no more than $50 million in companies providing private equity funding to businesses that meet certain criteria.

Highlights:
  • Authorizes the State Treasurer to invest no more than $50 million from the State Permanent School Fund in limited partnerships or limited-liability companies that provide private equity funding to businesses that meet the following criteria (Sec. 6):
    • The business is located in the state of Nevada or is seeking to relocate to Nevada; and
    • The business is primarily engaged in one or more of the following industries:
      • Health care;
      • Cyber security;
      • Homeland security and defense;
      • Alternative energy;
      • Advanced materials and manufacturing;
      • Information technology; or
      • Any other industry that the Commission on Economic Development deems critical to the economic development of Nevada.
  • Prohibits the State Treasurer from using any portion of the $50 million to make venture capital investments (Sec. 6).
  • Defines "private equity funding" as an investment or purchase of securities in businesses that are not publicly traded on a stock exchange (Sec. 4).
Legislation - Introduced (Senate) -

Title: Investment in Private Equity Firms

Committee Sponsors

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