(1) The Legislative Assembly finds that:
(a) The availability of venture capital for the start-up and subsequent expansion of new businesses is critical to the continued growth and development of the economy of Oregon.
(b) There exists an estimated gap of between $100 million and $200 million between available venture capital resources and the need of Oregon businesses for such resources.
(c) Investments in start-up and expanding businesses, in minority or women business enterprises and in emerging growth businesses can produce substantial positive returns for long-term investors.
(d) Pension funds managed by the Oregon Investment Council constitute a major financial resource of the State of Oregon, and that such funds may be prudently invested in start-up and emerging growth businesses in this state under policies established by the Oregon Investment Council.
(2) As used in this section:
(a) “Emerging growth business” has the meaning given that term in ORS 348.701.
(b) “Minority or women business enterprise” has the meaning given that term in ORS 200.005. [1995 c.811 §1; 2003 c.606 §1; 2005 c.22 §221]
Note: 293.796 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 293 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.
Section: Previous 293.770 293.771 293.775 293.776 293.778 293.780 293.790 293.796 293.802 293.805 293.810 293.811 293.812 293.813 293.814 NextLast modified: August 7, 2008