State and Local

Biotech Incentives Bill Raised From the Dead

A bill that critics say would put North Carolina into the venture capital business is alive and well after three Republicans and one Democrat raised it in the Senate Finance Committee this afternoon.  The debate marked a third attempt in as many years to pass the measure, known as the Life Sciences Development Act (Senate Bill 527). It would establish a private limited liability company to make taxpayer-funded loans of up to $30 million each to biotech startup companies. To underwrite the loans, the Life Sciences Development Company would sell equity certificates (similar to shares of ownership) to investors.



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