Passed May 9, 2024
1 co-sponsor
Total votes
0
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Attendance
-
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0%
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0%
crosses aisle rarely
Sponsored
168
bills & resolutions
Committees
8
assignments
168 bills and resolutions
Sponsored bills
Total
168
Primary
129
Co-sponsor
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168
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Increases aggregate investment amount that the state treasurer may invest in linked deposits and changes disbursement criteria for eligible parties
Maddy summaryThis bill modifies the rules for how the state treasurer manages linked deposits, which are funds set aside to provide loans to specific groups like minority-owned businesses, farmers, and small enterprises. Under the new provisions, the treasurer must make a good faith effort to ensure these deposits are used to offer loans at reduced interest rates to eligible borrowers, with the specific discount depending on current market rates. The legislation also establishes strict guidelines for loan agreements, requiring that the duration of the deposit matches the loan term and that the state receives market interest rates if the funds are not actively lending to eligible parties. Additionally, the bill mandates that the treasurer prioritize renewing existing loan agreements over funding new applications to maintain a stable flow of capital.
Signed into law May 9, 2024
1 co-sponsor
Signed into law May 9, 2024
1 co-sponsor
Passed May 8, 2024
1 co-sponsor
Passed May 7, 2024
0 co-sponsors
Passed May 6, 2024
1 co-sponsor
In committee May 2, 2024
0 co-sponsors
In committee May 1, 2024
0 co-sponsors
Passed Apr 30, 2024
1 co-sponsor
Passed Apr 25, 2024
0 co-sponsors
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