HB 1149 (2009) -  Economic Development

General Bill by Taylor, P. (CO-SPONSORS) Roberson, Y.; Rogers; Soto
Economic Development: Creates Microenterprise Development Program within OTTED; requires OTTED to select community development financial institutions to issue microenterprise loans & provide business skills development services for microentrepreneurs; provides criteria & application procedures for selection of community development financial institutions; requires that OTTED give priority to selection of certain institutions; requires community development financial institution to enter into grant agreement; provides eligibility criteria for award of loans to microenterprises; provides application procedures; requires loan agreements; provides terms of loans; provides for use of loan proceeds; provides for disbursement of certain funds from Economic Development Trust Fund; provides for collection & deposit of loan payments; provides that certain financial instruments used to secure loans are exempt from certain taxes; provides for reversion & carryforward of certain unexpended appropriations; authorizes community development financial institution to subcontract for certain services; specifies that business skills development services must include certain activities; requires that grant funds be used only for expenditures that meet certain federal matching requirements; provides appropriation.
Effective Date: July 1, 2009
Last Event: Died in Economic Development Policy Committee on Saturday, May 2, 2009 12:00 AM

Referred Committees and Committee Actions

House Referrals

Related Bills

Bill # Subject Relationship
Bill #: SB 2678 Subject: Economic Development [WPSC] Relationship: Identical

Bill Text

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Economic Development Policy Committee Time: 05/02/2009 - 12:00 AM Member: Committee: Economic Development Policy Committee Version: __
Event: H Indefinitely postponed and withdrawn from consideration Time: 05/02/2009 - 12:00 AM Member: Committee: Version: __
Event: H Now in Economic Development Policy Committee Time: 03/09/2009 - 9:46 PM Member: Committee: Economic Development Policy Committee Version: __
Event: H Referred to Full Appropriations Council on Education & Economic Development Time: 03/09/2009 - 9:46 PM Member: Committee: Full Appropriations Council on Education & Economic Development Version: __
Event: H Referred to Finance & Tax Council Time: 03/09/2009 - 9:46 PM Member: Committee: Finance & Tax Council Version: __
Event: H Referred to Economic Development & Community Affairs Policy Council Time: 03/09/2009 - 9:46 PM Member: Committee: Economic Development & Community Affairs Policy Council Version: __
Event: H Referred to Economic Development Policy Committee Time: 03/09/2009 - 9:46 PM Member: Committee: Economic Development Policy Committee Version: __
Event: H 1st Reading Time: 03/03/2009 - 10:03 PM Member: Committee: Version: __
Event: H Filed Time: 02/25/2009 - 11:13 AM Member: Taylor, P. Committee: Version: __

Statutes Referenced by this Bill

Statute Other Bill Citations
288.7017