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House passes bill creating Gulf Coast Restoration Fund revolving loan program
Summary
House Bill 1648, which establishes a Gulf Coast Restoration Fund revolving loan program with an indicated 3.5% interest rate for eligible applicants, was adopted by the House in conference report form by a unanimous vote.
Members adopted the conference report on House Bill 1648, which creates a Gulf Coast Restoration Fund revolving loan program intended for entities that already qualify for GCRF.
Representative (Hancock) explained the program on the floor and said it will be offered at a 3.5% interest rate to eligible borrowers. The conference report passed by a recorded vote of 118 ayes, 0 nays.
Speaker commentary and subsequent procedural steps were brief; the House moved on to other appropriations and calendar items after adoption.
