WA People
BILL · 2005–06 SESSION · LATEST VERSION SHB 2339

HB 2339: Business development

Regulating business development companies and the participation of financial institutions and nondepository lenders in economic development within the state.

Summary

  • Changes the name of industrial development corporations to business development corporations.
  • Changes the requirements for incorporation of a business development corporation.
  • Changes the structure of stockholder and corporate governance.
  • Expands the corporate powers.
  • Provides structures for examination authority, regulatory oversight, confidentiality and fees that are parallel to those used in the regulation of state chartered banks.
  • Gives the Director of the Department of Financial Institutions broad rule making authority.

From the Substitute House Bill Report (SHB 2339), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed House, stalled in Senate
  1. IntroducedJan 9, 2006
  2. Out of committeeJan 23, 2006
  3. Passed HouseFeb 7, 2006
  4. Passed Senatestopped here
  5. Governor
  6. Law
Prime sponsor
Steve Kirby (D-29)
Introduced
January 9, 2006 in the House
Last action
March 8, 2006
Requested by
Other
Companion bill
SB 6168
Budget
Has a fiscal note
Versions
HB 2339, SHB 2339

AN ACT Relating to business development companies and the participation of financial institutions and nondepository lenders in economic development within the state;

Sponsors

Prime sponsor: Steve Kirby (D-29)

2 co-sponsors (1 Democrat, 1 Republican)

Dan Roach R-31Maralyn Chase D-32

Votes

House · Final Passage

Passed February 7, 2006
Version voted on: SHB 2339
97 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat55001
Republican42000
How each member voted

Yea (97)

Excused (1)

Permalink to this vote

History

  1. By resolution, returned to House Rules Committee for third reading. (SHB 2339)
  2. First reading, referred to Financial Institutions, Housing & Consumer Protection. (SHB 2339)
  3. Third reading, passed; yeas, 97; nays, 0; absent, 0; excused, 1. (SHB 2339)
  4. Rules suspended. Placed on Third Reading. (SHB 2339)
  5. 1st substitute bill substituted. (SHB 2339)
  6. 1st substitute bill substituted.
  7. Placed on second reading by Rules Committee. (SHB 2339)
  8. Placed on second reading by Rules Committee.
  9. Passed to Rules Committee for second reading. (SHB 2339)
  10. Passed to Rules Committee for second reading.
  11. FII - Majority; 1st substitute bill be substituted, do pass. (SHB 2339)
  12. Minority; do not pass. (SHB 2339)
  13. Minority; do not pass.
  14. FII - Majority; 1st substitute bill be substituted, do pass.
  15. FII - Executive action taken by committee.
  16. First reading, referred to Financial Institutions & Insurance.
  17. Prefiled for introduction.

HB 2339 in other sessions

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

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