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OK HB2474
Bill
Status
2/6/2012
Primary Sponsor
Seneca Scott
Click for details
AI Summary
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Amends 2 O.S. 2011, Section 5-88 relating to the Oklahoma Agricultural Linked Deposit Act to modify loan interest rate provisions.
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Requires loans funded through agricultural linked deposits to be at a rate reflecting a percentage reduction below the borrowing rate applicable to each business, equal to at least the percentage rate reduction below market rates for the certificates of deposit or investments constituting the linked deposit.
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Directs the State Treasurer to take necessary steps to implement the Oklahoma Agricultural Linked Deposit Program and monitor compliance of eligible lending institutions and agricultural businesses.
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Effective date set for November 1, 2012.
Legislative Description
Food Desert Solutions Task Force; enacting the Economic Incentive Strategies for Addressing Barriers to Healthy Choices Act; emergency.
Government
Last Action
Emergency added
2/29/2012