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MO SB94

Bill

Status

Introduced

1/12/2011

Primary Sponsor

Brian Munzlinger

Click for details

Origin

Senate

2011 Regular Session

AI Summary

  • Repeals and reenacts sections 30.750, 30.753, 30.756, 30.758, 30.760, 30.765, and 260.035 RSMo relating to linked deposit financing programs for various eligible borrowers

  • Adds two new categories of eligible borrowers: "eligible energy-saving enterprises" and "eligible facility borrowers" to qualify for reduced-rate linked deposit loans for energy efficiency improvements

  • Authorizes the environmental improvement and energy resources authority to accept applications and certify businesses as eligible energy-saving enterprises based on borrower creditworthiness, economic conditions, energy audit results, and other factors

  • Limits reduced-rate loans to eligible energy-saving enterprises to a maximum of $200,000 per borrower with loan terms not exceeding five years, extendable to ten years maximum

  • Establishes an interest buy-down program where the authority pays the difference between normal rates and three percent for Missouri businesses financing energy efficiency improvements, with a maximum of $30,000 total interest per project

Legislative Description

Provides loan assistance programs to businesses for energy efficiency improvements

Last Action

Hearing Conducted S Jobs, Economic Development and Local Government Committee

2/23/2011

Committee Referrals

Jobs, Economic Development And Local Government1/20/2011

Full Bill Text

No bill text available