Venture Capital Company Mis-qualifications
Qualified is a key. The qualifications are very suspect?
By establishing qualifying criteria unrelated to the core needs and performance of venture capital success the law eliminated every highly successful Venture Capital Company known to exist.
Self destructive criteria that among other shortcomings fails to require background checks for past financial wrong doings in favor of applying criteria unrelated to the uniqueness of the venture capital industries eliminates all but a small few. Placing the states entire economic funding program in the hands of highly questionable and non proven parties.
One example of self destructive criteria - restricting venture capital company qualifying criteria to only those organized after to January 1, 2001, found in Section 2.C
Various other aspects of venture capital companies -- are addressed in
- Section 2.B.1.c investment of not more than ten percent (10%) of its funds in any one company;
- Section 2.C
No investor in a venture capital company organized after July 1, 1992, may claim tax credits under the provisions of this section.
- Section 2.F The
credit provided for in subsection A of this section, to the extent not
previously utilized, shall be freely transferable to and by subsequent
The role of the VCC is often referred to by other terms, e.g. pass-through entity, qualified venture capital company, qualified small business capital company, qualified rural small business capital company. With the word qualifying in this case referring to no qualifications related to the
real venture capital business, rather meaning restricted to certain preselected unidentified
some things, specifically excluding any venture capital business qualified by acceptable standards.