BILL · 2001–02 SESSION

HB 1587: Linked deposit programs

Modifying provisions relating to the linked deposit program.

Summary

  • $ Loans made under the linked deposit program are limited to one million dollars and interest cannot exceed the prime interest rate of the lender.
  • $ The performance of businesses receiving loans under the linked deposit program are to be monitored by the Office of Minority and Women = s Business Enterprises and the Department of Community, Trade, and Economic Development, in consultation with the State Treasurer.
  • $ The sunset provisions pertaining to the linked deposit program are repealed.

From the House Bill Analysis (HB 1587), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 30, 2001
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Velma Veloria (D-11)
Introduced
January 30, 2001 in the House
Last action
January 14, 2002
Requested by
Governor
Companion bill
SB 5642
Budget
Has a fiscal note

AN ACT Relating to the linked deposit program;

Sponsors

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. By resolution, reintroduced and retained in present status.
  3. First reading, referred to Financial Institutions & Insurance.

HB 1587 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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