Instructions For Application For Certification As A Certified Capital Company For Program Ii printable pdf download

Instructions For Application For Certification As A Certified Capital Company For Program Ii

INSTRUCTIONS FOR APPLICATION FOR CERTIFICATION AS A

CERTIFIED CAPITAL COMPANY FOR PROGRAM II

SUSAN COMBS • TEXAS COMPTROLLER OF PUBLIC ACCOUNTS

GENERAL

House Bill 1741, passed by the 80

Texas Legislature, amended Subchapter B of Chapter 4, Texas Insurance

Code, to allow for licensed insurance companies to invest an additional $200 million in certified capital

companies (CAPCOs). Certified capital companies are state-regulated, privately-owned and operated

venture capital entities that invest funds in qualified businesses that do business in the State of Texas.

Applications for certification as a CAPCO will be accepted on or after September 1, 2007. (Tax Credit

Allocation information will be submitted to the CAPCO upon its certification under the program. Requests

for allocation of Tax Credits will be accepted beginning December 15, 2007.)

Enclosed is the Texas CAPCO certification package. It includes an Application for Certification form, a

Biographical Affidavit form and a copy of the enabling legislation. The Application for Certification was

drafted to reflect a corporate Applicant. An Applicant that is a limited liability company, partnership or trust

should provide information comparable to that requested.

Newly formed CAPCOs should submit an original and two (2) copies of the Application and all supporting

materials and attachments, with a non-refundable application fee of $7,500.00 (made payable to the

Comptroller of Public Accounts) to:

TEXAS COMPTROLLER OF PUBLIC ACCOUNTS

CAPCO Program Administrator

208 E. 10

Street, Fourth Floor

Austin, TX 78701

ANY APPLICATION THAT DOES NOT CONTAIN EVIDENCE OF THE MINIMUM $500,000 INITIAL

CAPITALIZATION WILL NOT BE DEEMED TO HAVE BEEN FILED AND WILL BE RETURNED.

THE 30-DAY CERTIFICATION PROCESS WILL BEGIN ON THE BUSINESS DAY FOLLOWING THE DATE

THE PROPERLY COMPLETED APPLICATION FORM AND SUPPORTING DOCUMENTS AND

ATTACHMENTS ARE STAMPED RECEIVED. AN INCOMPLETE OR IMPROPERLY COMPLETED

APPLICATION WILL DELAY THE CERTIFICATION PROCESS.

Questions regarding submission of the Application and certification compliance or requirements should be

directed to:

CAPCO PROGRAM ADMINISTRATOR

(512) 463-4124

FAX: (512) 463-4368

e-mail: greg.scheirman@cpa.state.tx.us

25-308 (Rev.10-07/3)

Instructions For Application For Certification As A Certified Capital Company For Program Ii