Bill Text: OR SB494 | 2011 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to loans for economic development; and declaring an emergency.

Spectrum: Moderate Partisan Bill (Democrat 18-4)

Status: (Passed) 2011-06-30 - Effective date, June 28, 2011. [SB494 Detail]

Download: Oregon-2011-SB494-Amended.html

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     76th OREGON LEGISLATIVE ASSEMBLY--2011 Regular Session

SA to SB 494

LC 1952/SB 494-1

                      SENATE AMENDMENTS TO
                         SENATE BILL 494

 By COMMITTEE ON GENERAL GOVERNMENT, CONSUMER AND SMALL BUSINESS
                           PROTECTION

                             March 4

  On page 2 of the printed bill, line 43, delete 'not less than'.
  In line 44, restore 'emerging' and after 'enterprises ' insert
'as defined by the Oregon Business Development Department by
rule,'.
  On page 3, line 1, after the period delete the rest of the line
and lines 2 and 3 and insert 'If the Oregon'.
  In line 4, delete 'is' and insert 'was'.
  In line 5, after 'subsection' insert 'in the previous fiscal
year' and after 'may,' insert 'in the current fiscal year and'.
  In line 6, after 'loans' insert ', in an amount that does not
exceed the 15 percent reserved for the prior fiscal year less the
amount of loans made to emerging small business enterprises
located in rural and distressed areas during the previous fiscal
year,'.
  In line 7, after 'enterprises' insert 'that are located in or
draw their workforces from within distressed areas as determined
by the Oregon Business Development Department in cooperation with
the Employment Department of this state. As used in this
subsection, 'rural area' and 'distressed area' have the meaning
given those terms in ORS 285A.010'.
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