Bill Text: NC S592 | 2017-2018 | Regular Session | Amended

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Bill Title: Small Business Access to Capital Act

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2017-04-06 - Re-ref to Appropriations/Base Budget. If fav, re-ref to Rules and Operations of the Senate [S592 Detail]

Download: North_Carolina-2017-S592-Amended.html

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GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2017

S                                                                                                                                                     1

SENATE BILL 592

 

 

Short Title:      Small Business Access to Capital Act.		(Public)
Sponsors:	Senators Gunn, Ford (Primary Sponsors);  Barringer, Bryant, Clark, Edwards, McInnis, Newton, Smith-Ingram, Van Duyn, Waddell, and Woodard.
Referred to:	Rules and Operations of the Senate

April 5, 2017

A BILL TO BE ENTITLED

AN ACT to increase access to capital for small businesses by appropriating funds to the carolina small business development fund.

The General Assembly of North Carolina enacts:

SECTION 1.(a)  There is appropriated from the General Fund to the Carolina Small Business Development Fund the sum of five million dollars ($5,000,000) for the 2017‑2018 fiscal year and the sum of five million dollars ($5,000,000) for the 2018‑2019 fiscal year to be used to increase small business lending and business services across the State.

SECTION 1.(b)  The Carolina Small Business Development Fund shall report on the use of the funds appropriated in this section in compliance with the reporting requirements contained in Section 15.19 of S.L. 2015‑241.

SECTION 2.  This act becomes effective July 1, 2017.