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House approves measure to close and privatize a quasi‑governmental lending entity
Summary
House members approved HB 289 to allow the closure and privatization of a quasi‑governmental lending entity, with sponsors saying federal funds must be returned to the federal government while state and private claims remain; Representative Stevens estimated $8–$10 million would be returned to the state on wind‑down.
Representative Curtis described House Bill 289 as the final legislative step to close and privatize a quasi‑governmental entity created years earlier to provide business loans and expand capital. The bill directs federal funds to be returned to the federal government when grant rules so require while preserving the state's claim on state and private capital.
Representative Curtis said the entity had experienced audits and financial difficulties and that privatization had been considered and negotiated over several years. Representative Stevens told the House the wind‑down should return between $8 million and $10 million to the state. The House opened HB 289 for debate, yielded no lights for further discussion, and then voted; the transcript records that HB 289 received seven yes votes and zero no votes and that it will be transmitted to the Senate for its action.
The transcript does not include the names of every member recorded in that roll call in this excerpt, but it records the outcome and the parliamentary steps to transmit the bill to the Senate.
