Key Votes

SB 75 - Investment in Private Equity Firms - Key Vote

Nevada Key Votes

Stages

Family

Issues

Stage Details

Legislation - Signed (Executive) -

Title: Investment in Private Equity Firms

Signed by Governor Brian Sandoval
Legislation - Concurrence Vote Passed (Senate) -
Legislation - Bill Passed (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).
See The Voting Record

Legislation - Introduced (Senate) -

Title: Investment in Private Equity Firms

Committee Sponsors