Relating to interest-only loans to assist small businesses to increase employment.
Summary
Establishes Local Markets Small Business Capital Loan Program to be administered by Oregon Business Development Department for purpose of making interest-only loans to allow businesses with not more than 50 employees to hire new employees. Requires payment of principal plus penalty for failure to hire and retain employees for at least two years. Establishes Local Markets Small Business Capital Loan Fund for purpose of administering loan program. Appropriates moneys to department for purpose of administering loan program and loan fund.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2019
Committee Review
Floor Vote
Governor
Introduced Jan 28, 2019
Last action Jul 1, 2019
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
1
Committee
2
Jul 1, 2019
Lower · Passed
In committee upon adjournment.
lower
Feb 4, 2019
Committee
Referred to Economic Development with subsequent referral to Ways and Means.
lower
Jan 28, 2019
Introduced
First reading. Referred to Speaker's desk.
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Paul Evans
DDemocratic
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