Bill Text: CT HB05050 | 2010 | General Assembly | Comm Sub
Bill Title: An Act Establishing A Revolving Loan Fund For Nonprofit Economic And Community Development Organizations And Certain Lenders.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2010-04-27 - Tabled for the Calendar, House [HB05050 Detail]
Download: Connecticut-2010-HB05050-Comm_Sub.html
General Assembly |
Raised Bill No. 5050 | ||
February Session, 2010 |
LCO No. 562 | ||
*_____HB05050CE____042710____* | |||
Referred to Committee on Banks |
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Introduced by: |
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(BA) |
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AN ACT ESTABLISHING A REVOLVING LOAN FUND FOR NONPROFIT ECONOMIC AND COMMUNITY DEVELOPMENT ORGANIZATIONS AND CERTAIN LENDERS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective October 1, 2010) The Commissioner of the Department of Economic and Community Development shall establish and administer a competitive revolving loan fund that shall be used to provide funds to nonprofit economic and community development organizations and certain lenders. Moneys in such fund shall be used to provide loans to small and other certain business enterprises in this state. The Banking Commissioner shall remit to the Commissioner of Economic and Community Development two per cent of all fines collected by the Banking Department on an annual basis. The Commissioner of Economic and Community Development shall deposit all moneys received from the Banking Commissioner in the revolving loan fund established pursuant to this section.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
October 1, 2010 |
New section |
BA |
Joint Favorable C/R |
FIN |
FIN |
Joint Favorable |
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CE |
Joint Favorable |