Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House tweaks capital access program to expand premium range, passes 64–1
Summary
Lawmakers amended parameters of the Capital Access Program in HB17 to allow premium flexibility (minimum 0.5% to maximum 6%), allow lender-held reserve accounts, and let UTFC withdraw interest from the state account; after floor questions on reporting and risk the House passed HB17 64–1.
Representative David M. Jones presented House Bill 17 as largely technical changes intended to make Utah’s Capital Access Program more usable for small and rural businesses seeking start-up capital.
Jones said the bill changes three main elements: it broadens allowable premium parameters so lenders and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
