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House approves fund to manage federal small-business credit dollars
Summary
The House passed Senate Bill 198 to create a State Small Business Credit Initiative Program Fund that will receive an anticipated $13 million in federal funds to leverage loans for Utah small businesses; the measure passed 54–16.
The Utah House on March 8 approved Senate Bill 198 to create an enterprise fund to manage federal dollars intended to expand lending to small businesses and manufacturers.
Representative L. Schroer, the House sponsor, told colleagues the bill establishes the State Small Business Credit Initiative Program Fund and gives the Division of Housing and Community Development authority to receive and spend federal revenues tied to the…
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