Loading chat...
MS SB2835
Bill
AI Summary
-
Deletes the requirement that economic development loans made through planning and development districts bear a minimum interest rate of 5% per annum.
-
Sets maximum interest rate on loans at 4% above the federal discount rate, plus servicing fees.
-
Applies to small business assistance provided through revolving assistance funds managed by planning and development districts and qualified entities.
-
Effective July 1, 2011.
Legislative Description
Economic development loans; delete interest rate requirement.
Last Action
Died In Committee
2/1/2011
Full Bill Text
No bill text available