MINUTES 
                                           
                      SENATE COMMITTEE ON ECONOMIC DEVELOPMENT 
                 Subcommittee on Private Sector Business Financing 
                              Tuesday, April 25, 2000 
                                     9:30 a.m. 
                                   Senate Chamber 
                                           
                                       ***** 
                                           
         Pursuant to a notice posted in accordance with Senate Rule  
         11.18, a public hearing of the Senate Committee on Economic  
         Development, Subcommittee on Private Sector Business Financing,  
         was held on Tuesday, April 25, 2000, in the Senate Chamber at  
         Austin, Texas. 
          
                                       ***** 
                                           
         MEMBERS PRESENT:                        MEMBERS ABSENT: 
         Senator John Carona, Chairman            
         Senator Troy Fraser 
         Senator David Sibley                     
                                                  
                                       ***** 
                                           
         The Chairman called the meeting to order at 9:30 a.m.  The  
         following business was transacted.  
          
         Chairman Carona thanked those in attendance and advised that at  
         the first meeting of the subcommittee, the members heard  
         testimony from the Texas Department of Economic Development on  
         their business assistance loan programs.  In addition, a  
         representative from Small Business United testified on expansion  
         of business financing through creation and expansion of  
         government assisted programs.  Finally, the members heard  
         testimony regarding the formation and success of capital  
         companies being used in other states to provide capital for  
         startup ventures.  The Chairman then advised that at this  
         meeting the members would hear testimony from two other  
         perspectives on the issue. 
          
         The first invited witness was Thomas Kowalski, President of the  
         Texas Healthcare and Bioscience Institute, Austin.  Mr. Kowalski  
         explained that the Institute is a public policy research  
         organization, primarily created as a resource for the life  
         science industry, and testified on the potential for this  
         industry. 
          
         Following Mr. Kowazlski's testimony and response to members'  
         questions, the Chairman called Jan F. Triplett, Ph.D,  
         representing the Texas Entrepreneurs' Association and Business  
         Success Center.  Dr. Triplett discussed her organization and  
         testified on venture capital and funding for small businesses. 
  
         Upon completion of Dr. Triplett's testimony and response to  
         members' questions, Chairman Carona advised that the Chair  
         intends to begin work on the report and circulate a draft to the  
         members for their review and approval, with a June 1, 2000  
         deadline for the final report. 
          
         There being no further business, at 10:15 a.m. Chairman Carona  
         moved that the subcommittee be adjourned. Without objection, it  
         was so ordered.   
          
         __________________________ 
         Senator John Carona, Chairman 
          
         __________________________ 
         Barbara Henderson, Clerk