House Majority Leader Jeff Alexander says a new level of cooperation on Capitol Hill between legislators and a tech-savvy Gov. Jon Huntsman is helping to advance bills important to the state's computer and Internet business sectors.

"The economy is back and doing well," the Provo Republican says, apparently referring to recent forecasts for a larger-than-expected state revenue surplus. "These are great times."

Topping the list of successful legislation is HB179, the Venture Capital Enhancement Act, which has passed both houses and is awaiting the governor's signature after two years and three sessions of debate.

Sponsoring Rep. Peggy Wallace, R-West Jordan, says the approved measure finally addresses several points of contention. One resulted in a wording change to protect investors' proprietary information; two others dealt with the bill's provision for "contingent tax credits."

Essentially, the credits would kick in if investments in the fund missed a set rate of return and if the fund's own reserve account couldn't provide the difference.

Since the bill's birth in 2003, critics had argued the credits, as originally provided, may violate the Utah Constitution's ban on state government establishing private business. The amended bill instituted new limitations on the manner in which the tax credits are issued, registered, transferred and redeemed. The revisions also require the Utah State Tax Commission to verify the validity of claimed credits.

"There is always some tweaking to be done, but we finally have taken care of those," Wallace told a Utah Information Technology Association breakfast meeting. "We have now taken this bill to the 'nth' degree to be sure it is viable."

Senate President John Valentine, R-Orem, said other technology legislation before the Legislature still faces a challenge securing approval before the session ends March 2.

He called substitute Senate Bill 192, which would appropriate $14 million in one-time money for tech-research building construction at the University of Utah and Utah State, a "work in progress" although the "concept is sound." The Senate Workforce Services and Community and Economic Development Committee voted 7-0 on Friday to advance the measure to the full Senate with a favorable recommendation.

HB260, a resurrected measure from 2004 that seeks to force pornographic Web sites to carry ratings, has languished in the House Rules Committee since its introduction Jan. 31. HB109, a bill consolidating numerous, scattered technology services and information jobs into a new Department of Technology Services, has fared better. On Friday, it was moved from the House Rules Committee to the third reading calendar.

bmims@sltrib.com