An effort has been renewed to create a state Capital Acceleration Authority to oversee the distribution of up to $200 million that would come from auctioning tax credits, with the money invested in new businesses in the state.
Sen. Allen Peake, R-Macon, said the authority would distribute the capital to venture companies investing in Georgia startups. The companies also would have "skin in the game" by investing their own money. Peake's House Bill 718 is the Legislature's second attempt to boost capital investment and create jobs. The first bill stalled because of questions about its effectiveness.
House Speaker David Ralston, R-Blue Ridge, said he recognizes that access to capital is tough for businesses. Peake's proposal seems to improve the model, and Ralston said he will take a look at it in more detail during the legislative process.
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