Bill > HR6

This resolution proposes an amendment to the Georgia State Constitution that would authorize the General Assembly to create more than one Seed-Capital Fund. Currently, the constitution allows for only one such fund, but this amendment would permit multiple funds designed to support small, young entrepreneurial firms in technology, manufacturing, and agriculture. The funds would be managed by the Advanced Technology Development Center of the University System of Georgia and can provide equity and capital through loans or investments. Any returns on these investments, such as rents, dividends, or royalties, would be reinvested back into the applicable Seed-Capital Fund. The resolution also specifies that moneys appropriated to these funds would not be subject to standard government fund lapsing provisions. If ratified by voters, the amendment would expand the state's ability to support innovative startups by providing more flexible funding mechanisms. The proposed constitutional change would be submitted to voters with a specific ballot question asking whether they support authorizing multiple Seed-Capital Funds.

Education

https://www.legis.ga.gov/legislation/69278