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Biosciences and Emerging Technology

TWENTIETH MEETING

2007-2008 Regular Session - February 19, 2008

STATE OF MINNESOTA TWENTIETH MEETING
HOUSE OF REPRESENTATIVES EIGHTY-FIFTH SESSION

BIOSCIENCES AND EMERGING TECHNOLOGIES COMMITTEE

MINUTES


Representative Tim Mahoney, Chair of the Committee, called the meeting to order at 10:08AM on February 19, 2008 in Room 200 of the State Office Building.

The Committee Legislative Assistant noted the roll.

Members present:

MAHONEY, Tim (Chair)
NORTON, Kim (Vice Chair)
BERNS, John
BUNN, Julie
HAWS, Larry
MASIN, Sandra
PEPPIN, Joyce
THISSEN, Paul
WINKLER, Ryan

Members excused:

BEARD, Michael
RUTH, Connie

A quorum was present.

Representative Peppin moved that the minutes from March 20, 2007 be adopted. THE MOTION PREVAILED.

The following testifiers provided information on Minnesota's venture capital/angel investment climate:

Harlan Jacobs, President, Genesis Business Centers, Ltd.
John J. Alexander, President and CEO, Chameleon Scientific & Chairman TCAngels
Michael Berman, Founder, Berman Medical

HF 3143 (Winkler)

Representative Winkler moved that HF 3143, a bill for an act relating to state government finance; allowing individual income and corporate franchise credit for investment in Minnesota high technology businesses, be recommended to pass and be re-referred to the Finance Committee. THE MOTION PREVAILED.

HF 3144 (Winkler)

Representative Winkler moved that HF 3144, a bill for an act relating to taxation; limiting the jurisdiction to tax persons investing in certain entities, be recommended to pass and be re-referred to the Taxes Committee.

Representative Winkler moved to amend HF 3144 as follows:

Page 3, line 3.25, after "than" delete "30" and insert "25"

THE MOTION PREVAILED. THE AMENDMENT WAS ADOPTED.

Representative Winkler moved that HF 3144 be recommended to pass, as amended, and be re-referred to the Taxes Committee. THE MOTION PREVAILED.

The meeting was adjourned at 11:34AM.


_____________________________________
Rep. Tim Mahoney, Chair


_____________________________________
Autumn Williams-Wussow,
Committee Legislative Assistant
More Info On This Meeting..
House TV Video:
View Archive

03:36 - Gavel.
05:14 - Minnesota's venture capital/angel investment climate.
1:23:50 - HF3143 (Winkler) Individual income and corporate franchise credit allowed for investment in Minnesota high technology businesses, and appropriation reduced.
1:26:30 - HF3144 (Mahoney) Jurisdiction limitation provided to tax persons investing in certain entities.
Runs 1 hour, 27 minutes.


Minnesota's venture capital/angel investment climate
HF3143 (Winkler) Angel investment tax credit
HF3144 (Winkler) Limiting the jurisdiction to tax persons investing in certain entities