PETITION OF THE FIFTY-SIXTH LEGISLATURE FOR A CALL OF SPECIAL SESSION
WHEREAS, Montana lacks the start up venture capital necessary for midsizebusinesses and enterprises; and
WHEREAS, Montana financial institutions are unable to supply the necessaryventure capital because of lending limits and equity requirements ; and
WHEREAS, it is desirable to develop a method of providing the venture capitalnecessary for new midsize businesses and enterprises in order to improve the Montanaeconomy; and
WHEREAS, Article V, section 6, of The Constitution of the State of Montanaand section 5-3-101, MCA, provide that the Legislature may be convened in specialsession at the request of a majority of the members.
NOW, THEREFORE, WE THE UNDERSIGNED, being a majority of the membersof the Fifty-Sixth Legislature, pursuant to Article V, section 6, of the MontanaConstitution and section 5-3-101, MCA, hereby convene the Fifty-Sixth Legislatureinto special session in Helena, to run concurrently with the special session beginningMay 8, 2000, called by the Governor.
The special session hereby convened shall consider legislation to authorize theuse of $50 million of coal severance tax permanent trust fund by the Board ofInvestments and participating local financial institutions for loans to finance newmidsize businesses and enterprises.