S-0715.2          _______________________________________________

                                 SENATE BILL 5787

                  _______________________________________________

State of Washington              52nd Legislature             1991 Regular Session

By Senators Cantu, Owen, Metcalf, Amondson, Stratton, Bailey and Thorsness.

Read first time February 20, 1991.  Referred to Committee on Commerce & Labor.Authorizing the expansion of small business financing.

     AN ACT Relating to small business financing; and adding a new section to chapter 43.31 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  A new section is added to chapter 43.31 RCW to read as follows:

     The state may, through the department of trade and economic development, expand small business financing.  The department may encourage creation of more venture capital funds, not only from groups of individual investors, but may also seek those funds from community-based business consortia to assist new and expanding small businesses in the investors' region.