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2019 SESSION
SB 1658 Tobacco Indemnification & Community Revitalization Fund; investments in Va. Venture Capital Accts.
Introduced by: A. Benton "Ben" Chafin | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Tobacco Indemnification and Community Revitalization Fund; investments in Virginia Venture Capital Accounts. Authorizes the Tobacco Region Revitalization Commission (the Commission) to invest up to 10 percent of the available balance (as of July 1, 2019) from the taxable portion of the Tobacco Indemnification and Community Revitalization Fund in Virginia venture capital accounts that have been certified by the Department of Taxation.
SUMMARY AS INTRODUCED:
Tobacco Indemnification and Community Revitalization Fund; investments in Virginia Venture Capital Accounts. Authorizes the Tobacco Region Revitalization Commission (the Commission) to invest up to 10 percent of its annual disbursements from the Tobacco Indemnification and Community Revitalization Fund in Virginia venture capital accounts that have been certified by the Department of Taxation.