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A 758

Establishes the diversity in investment act requiring certain venture capital companies to report diversity information about its funding determinations

2025 Regular Session Introduced by Alex Bores

The act would require certain venture capital firms to report diversity-related data tied to their funding decisions.

REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
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Bill Summary · A 758

Summary: Assembly Bill A 758 — Diversity in Investment Act

Overview

  • Bill number: A 758
  • Title: Establishes the Diversity in Investment Act requiring certain venture capital companies to report diversity information about its funding determinations
  • Primary sponsor: Alex Bores
  • Introduced: January 8, 2025
  • Status: Referred to the Committee on Corporations, Authorities and Commissions
  • Legislative actions: On January 8, 2025, the bill was referred to the Committee on Corporations, Authorities and Commissions. The same referral appears twice in the record.

What the bill would do

  • The bill would establish a new framework called the Diversity in Investment Act.
  • It would require certain venture capital companies to report diversity information related to their funding determinations (i.e., how investment decisions are made with respect to diversity considerations).
  • The exact scope (which venture capital firms are covered, what specific diversity data must be reported, reporting frequency, and reporting to whom) would be defined in the bill text.

Key provisions (as described in available information)

  • Mandate: Venture capital firms meeting the act’s criteria would be obligated to disclose diversity-related information tied to funding decisions.
  • Reporting focus: Information would pertain to the diversity characteristics involved in investment determinations (e.g., the consideration of diverse or underrepresented groups in funding decisions). Specific metrics and data categories would be set forth in the enacted text.
  • Compliance framework: The act would likely establish reporting deadlines, submission formats, and the entity responsible for receiving and auditing the reports, along with enforcement mechanisms and penalties for noncompliance (details not provided in the available summary).

Who would be affected

  • Targeted entities: Certain venture capital companies that fall under the act’s covered entities (definition to be provided in the bill).
  • Related stakeholders: Venture capital funds, portfolio companies receiving investments, fund managers, and entities responsible for state-level compliance and enforcement.

Procedural and timeline aspects

  • Introduction date: January 8, 2025.
  • Current stage: Referred to the Committee on Corporations, Authorities and Commissions. No floor action or voting record is indicated in the available information.
  • Related legislation: A Senate companion bill is listed as S 5636, indicating cross-chamber consideration; the companion is noted twice in the provided record.

Related bill

  • Senate companion: S 5636 (listed as the counterpart to A 758)

Potential impact and considerations

  • Transparency and accountability: If enacted, the bill could increase transparency around how diversity considerations influence venture capital funding decisions.
  • Compliance costs: Firms may incur additional administrative and reporting costs to capture and submit required data.
  • Policy questions: Details such as the precise data categories, data privacy, measurement standards, and how the information will be used by the state would shape effectiveness and implementation.

Next steps

  • Review the full bill text to understand exact definitions (which firms are covered, data requirements, and reporting mechanisms).
  • Monitor committee hearings and any amendments, as well as action on the Senate companion S 5636 for continued progress.

Compiled from official sources — confirm details with the bill’s official record.

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