Report on Implementation of Article

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  6. Report on Implementation of Article

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    1. On or before January 1, 2015, and January 1 of each subsequent year, the fund administrator, through the board, shall submit a report on the implementation of this article to the Governor, the Lieutenant Governor, the Speaker of the House of Representatives, and the chairpersons of the Senate Finance Committee and the House Committee on Ways and Means.
    2. The center shall also publish the report on the center's website in a publicly available format.
    3. The report published on the website shall not include any proprietary or confidential information.
  2. The report shall include:
    1. With respect to each venture capital fund or private equity organization that has received an allocation of designated capital:
      1. The name and address of the venture capital fund or private equity organization;
      2. The names of the individuals making qualified investments under this article;
      3. The amount of designated capital received during the previous year;
      4. The cumulative amount of designated capital received;
      5. The amount of designated capital remaining uninvested at the end of the preceding calendar year;
      6. The names and locations of qualified businesses receiving designated capital and the amount of each qualified investment;
      7. The annual performance of each qualified investment, including the qualified investment's fair market value as calculated according to generally accepted accounting principles; and
      8. The amount of any qualified distribution or nonqualified distribution taken during the prior year, including any management fee;
    2. With respect to the Invest Georgia Fund:
      1. The amount of designated capital received during the previous year;
      2. The cumulative amount of designated capital received;
      3. The amount of designated capital remaining uninvested at the end of the preceding calendar year;
      4. The names and locations of qualified businesses receiving designated capital and the amount of each qualified investment; and
      5. The annual performance of each qualified investment, including the qualified investment's fair market value as calculated according to generally accepted accounting principles; and
    3. With respect to the qualified businesses in which venture capital funds have invested:
      1. The classification of the qualified businesses according to the industrial sector and the size of the business;
      2. The total number of jobs created in Georgia by the investment and the average wages paid for the jobs; and
      3. The total number of jobs retained in Georgia as a result of the investment and the average wages paid for the jobs.

(Code 1981, §10-10-20, enacted by Ga. L. 2013, p. 243, § 5/HB 318.)


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