Bill Text: CT HB05265 | 2012 | General Assembly | Introduced

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Bill Title: An Act Concerning Small Business Lending.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2012-02-24 - Public Hearing 02/28 [HB05265 Detail]

Download: Connecticut-2012-HB05265-Introduced.html

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General Assembly		Raised Bill No. 5265
February Session, 2012		LCO No. 1181
		*01181_______CE_*
Referred to Committee on Commerce
Introduced by:
(CE)

AN ACT CONCERNING SMALL BUSINESS LENDING.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective July 1, 2012) The State Treasurer is hereby authorized to use up to one billion dollars from the State Employees Retirement Fund to purchase the guaranteed portion of federal Small Business Administration loans that, on or after July 1, 2012, are extended by state chartered banks to small businesses within the state that qualify for such loans.

This act shall take effect as follows and shall amend the following sections:
Section 1	July 1, 2012	New section

Statement of Purpose:

To support small business financing and growth.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]