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1996 SESSION

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HJ 194 Technology development and entrepreneuship.

Introduced by: W. W. Bennett, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Confirming and supporting the Center for Innovative Technology as the broker of technology development and entrepreneurship in the Commonwealth. This resolution states some of the recommendations of the Science and Technology Task Force, e.g., that the General Assembly should support the efforts of the Center for Innovative Technology in identifying emerging technologies and the funding for the technology development centers; the CIT should establish a network of entrepreneurs across the state; Virginia should work with other states to encourage the federal government to sustain and increase research and development programs; the Commonwealth should more aggressively market present and future federal research and development facilities located in Virginia; the Commission on State and Local Responsibility and Taxing Authority should examine the benefits of removing the BPOL tax from venture capital companies; the CIT should confer with the VRS regarding efforts to support venture capital firms in investing in Virginia technology; the Governor and the General Assembly should study the use of tax credits to encourage private investors to support venture capital business in Virginia; and the funding of the CIT should be expanded to establish a fund to support technology start-up companies.


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