OR SB1502 | 2020 | Regular Session

Status

Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: Introduced on February 3 2020 - 25% progression, died in chamber
Action: 2020-03-08 - At Desk upon adjournment.
Text: Latest bill text (Engrossed) [PDF]

Summary

Establishes Agricultural Cooperative Member Low-Interest Loan Fund. Continuously appropriates moneys in fund to State Department of Agriculture] Oregon Business Development Department for carrying out loan program. Appropriates moneys from General Fund to State Department of Agriculture for deposit in Agricultural Cooperative Member Low-Interest Loan Fund for biennium ending June 30, 2021.] Limits payment from lottery moneys allocated from Administrative Services Economic Development Fund to department for deposit in Agricultural Cooperative Member Low-Interest Loan Fund for biennium ending June 30, 2021. Authorizes State Department of Agriculture] department to make loans from fund to farmers that were members of agricultural cooperative on date that cooperative initiated bankruptcy proceedings. Specifies terms of loans. Requires State Department of Agriculture to assist with loan application evaluation if requested by Oregon Business Development Department. Authorizes State Department of Agriculture] Oregon Business Development Department to delegate application processing and loan servicing to lending institutions. Makes loan program operative January 1, 2021. Sunsets loan program and abolishes Agricultural Cooperative Member Low-Interest Loan Fund January 2, 2040. Takes effect on 91st day following adjournment sine die.

Tracking Information

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Title

Relating to assistance for members of agricultural cooperative; prescribing an effective date.

Sponsors


Roll Calls

2020-02-28 - Senate - Senate Committee Do pass with amendments. (Printed A-Eng.) (Y: 13 N: 0 NV: 0 Abs: 8) [PASS]
2020-02-12 - Senate - Senate Committee Do pass and refer to Ways and Means by prior reference (Y: 5 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2020-03-08SenateAt Desk upon adjournment.
2020-03-03SenateRecommendation: Do pass with amendments. (Printed A-Eng.)
2020-02-28SenateWork Session held.
2020-02-27SenateReturned to Full Committee.
2020-02-27SenateWork Session held.
2020-02-25SenateAssigned to Subcommittee On Capital Construction.
2020-02-12SenateReferred to Ways and Means by prior reference.
2020-02-12SenateRecommendation: Do pass and be referred to Ways and Means by prior reference.
2020-02-12SenatePublic Hearing and Work Session held.
2020-02-03SenateReferred to General Government and Emergency Preparedness, then Ways and Means.
2020-02-03SenateIntroduction and first reading. Referred to President's desk.
2020-01-27SenatePresession Released to the Public.

Oregon State Sources


Bill Comments

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