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MO SB94
Bill
Status
1/12/2011
Primary Sponsor
Brian Munzlinger
Click for details
AI Summary
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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
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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
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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
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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
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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