Bill SpotlightBill: SB 1005 – private fund advisers; exemption

Primary Sponsor: Sen. David Farnsworth

Status: Referred to Senate Financial Institutions; no further action taken

Summary: Exempts certain private fund advisers from licensure by the Arizona Corporation Commission if certain conditions are met.

Recommendation: The Greater Phoenix Chamber of Commerce supports this bill as an important economic development tool that was highlighted through the Chamber’s Phoenix Forward initiative.

Currently, Arizona is at a competitive disadvantage in attracting capital as many of our neighboring states have already implemented this exemption, either through state statute or federal guidelines. As a result, our state is being skipped over by investors looking to establish venture capital funds.

We urge the members of the Legislature to join us in supporting SB 1005.

Posted by Greater Phoenix Chamber of Commerce

The Greater Phoenix Chamber of Commerce supports business growth and drives economic development in the region by helping members stay connected and prosperous, growing the economy through Phoenix Forward, our collaborative economic development partnership, and advocating for pro-business policies.