l9n/ Mississippi

2010 Regular Session

Senate Bill 3178

Small business; authorize a loan program to encourage extension of conventional financing.

Did not become law. It stopped in the House of Representatives's Ways and Means Committee on March 16, 2010. The 2010 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO ESTABLISH THE MISSISSIPPI SMALL BUSINESS PARTICIPATING LOAN PROGRAM TO BE ADMINISTERED BY THE MISSISSIPPI DEVELOPMENT AUTHORITY; TO PROVIDE THAT THE PROGRAM SHALL PROVIDE LOANS TO SMALL BUSINESSES FOR THE PURPOSE OF ENCOURAGING THE EXTENSION OF CONVENTIONAL FINANCING AND THE ISSUANCE OF LETTERS OF CREDIT TO SMALL BUSINESSES BY PRIVATE INSTITUTIONS; TO PROVIDE THAT THE AMOUNT OF A LOAN TO ANY SINGLE SMALL BUSINESS UNDER THE PROGRAM SHALL NOT EXCEED 50% OF THE TOTAL COST OF THE PROJECT FOR WHICH FINANCING IS SOUGHT OR $100,000.00, WHICHEVER IS LESS; TO CREATE THE MISSISSIPPI SMALL BUSINESS PARTICIPATING LOAN PROGRAM REVOLVING FUND IN THE STATE TREASURY FROM WHICH MONEY TO MAKE THE LOANS UNDER THE PROGRAM SHALL BE DRAWN; TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS IN THE AMOUNT OF $23,000,000.00 TO PROVIDE FUNDS FOR THE PROGRAM; TO AMEND SECTION 57-10-505, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "SMALL BUSINESS" UNDER THE MISSISSIPPI SMALL BUSINESS ASSISTANCE ACT; TO AMEND SECTION 57-10-511, MISSISSIPPI CODE OF 1972, TO REVISE THE AMOUNT THAT PLANNING AND DEVELOPMENT DISTRICTS AND QUALIFIED ENTITIES MAY RETAIN TO AID IN THE ADMINISTRATION AND MANAGEMENT OF THE MISSISSIPPI SMALL BUSINESS ASSISTANCE PROGRAM; AND FOR RELATED PURPOSES.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

1 co-sponsor

Bob M. Dearing

Its course

February 18 to March 16, 2010, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action6 actions on 6 days

In the SenateFeb 18 to Feb 246 days

FinanceFeb 18 to Feb 235 days

In the House of RepresentativesFeb 24 to Mar 16 · stopped20 days

Ways and MeansMar 1 to Mar 16 · stopped15 days

Text

Each version as the Legislature printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislature published it is below.

In the Senate Feb 18 – Feb 24

  1. Feb 18Referred to the Senate committee on Finance
  2. Feb 23Reported from committee in the Senate: title sufficient, do pass
  3. Feb 24Passed the Senate

In the House of Representatives Feb 25 – Mar 16

  1. Feb 25Sent to the House
  2. Mar 1Referred to the House committee on Ways and Means
  3. Mar 16Died in committee in the House
All 6 actions, as published
  1. Feb 18Referred To FinanceSenate
  2. Feb 23Title Suff Do PassSenate
  3. Feb 24PassedSenate
  4. Feb 25Transmitted To HouseSenate
  5. Mar 1Referred To Ways and MeansHouse of Representatives
  6. Mar 16Died In CommitteeHouse of Representatives