SB 5881-S - DIGEST

(DIGEST OF PROPOSED 1ST SUBSTITUTE)

     Develops a grant program designed to establish an institute for entrepreneurial development.

     Limits the grants to educational institutions or nonprofit development organizations.

     Designates the functions which the institute must perform.

     Reduces state contributions in stages.

     Requires reports by December 1, 1995, and December 1, 1997.

     Makes an appropriation of four hundred fifty thousand dollars to carry out the purposes of the act.