Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Disaster Recovery Loans topic
No spam. Unsubscribe anytime.
Committee hears plan for disaster recovery loan fund that would include agricultural businesses, requests $2 million
Summary
A committee member reported that commerce is drafting a disaster/flood recovery loan fund that would include agricultural businesses; the draft requests $2,000,000 in funding. The committee scheduled Joint Fiscal Office (JFO) testimony on related fiscal impacts.
Committee members heard a report that commerce is revising statutes to add a disaster recovery loan fund, which would include agricultural businesses, and that the commerce proposal requests $2,000,000 in funding.
Greg, a committee member, told colleagues he had circulated the proposed changes and said the fund initially was described as a flood recovery loan fund but may be broader (a general disaster recovery loan fund). He said the proposal would include agricultural businesses among eligible applicants and that the draft requests $2,000,000 in funding. Another committee member clarified the fund would be available to “any business,” which the presenter confirmed includes agricultural businesses.
Committee members said they planned to have the Joint Fiscal Office review previous bills and provide financial analysis at an upcoming meeting to clarify potential costs and savings. Members discussed logistics for future meetings but did not take formal action on the fund proposal during this session.
Next steps: committee to receive fiscal testimony from the Joint Fiscal Office; committee members may follow up with commerce staff for the draft statutory language and funding justification.
