HB1891 Revises the linked deposit loans program.
Sponsor: Myers, Peter (160) Effective Date:00/00/0000
CoSponsor: Foster, Bill I. (156) LR Number: 3338L.02I
Last Action: 02/24/2000 - Referred: Agriculture (H)
HB1891
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
ACTIONS HEARINGS CALENDAR
BILL SUMMARIES BILL TEXT
BILL SEARCH HOUSE HOME PAGE

Available Bill Summaries for HB1891 Copyright(c)
* Introduced

Available Bill Text for HB1891
* Introduced *

BILL SUMMARIES

INTRODUCED

HB 1891 -- Linked Deposits for Agricultural and Small Business
Assistance

Co-Sponsors:  Myers, Foster

This bill makes changes in the Linked Deposits for Agricultural
and Small Assistance Program.  Those changes include:

(1)  Credit unions are added to the eligible lending
institutions allowed to participate in the program.

(2)  Eligible lending institutions making loans to eligible
small businesses, farming operations, agribusinesses, beginning
farmers, and livestock operations are to make such loans at a
rate not more than 1% greater than the rate afforded the deposit
made by the State Treasurer.

(3)  Currently, the State Treasurer may invest no more than $165
million of aggregate deposits for linked deposits to eligible
farming operations, agribusinesses, beginning farmers, and
livestock operations.  The bill permits the State Treasurer to
invest no more than $110 million of aggregate deposits for
linked deposits to eligible farming operations and beginning
farmers.

(4)  Currently, the State Treasurer may invest no more than $55
million of aggregate deposits for linked deposits to eligible
small businesses.  The bill permits the State Treasurer to
invest no more than $110 million of aggregate deposits for
linked deposits to eligible small businesses, agribusinesses,
and livestock operations.


redbar

Missouri House of Representatives' Home Page
Last Updated October 5, 2000 at 11:35 am