Public Act 4 of 2007

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• Introduced by Sen. Jim Barcia (D) on January 24, 2007, to extend from five to 10 years the term of a $5 million taxpayer-subsidized loan authorized by Public Act 342 of 2004. The loan paid a Saginaw-area sugar beet growers' cooperative to purchase the assets of the Monitor Sugar processing company.
  • Referred to the Senate Appropriations Committee on January 24, 2007.
    • Reported in the Senate on February 8, 2007, with the recommendation that the substitute (S-1) be adopted and that the bill then pass.
  • Substitute offered in the Senate on February 15, 2007, to replace the previous version of the bill with one that also would require that the loan be repaid in full immediately if the borrower misses a quarterly payment after February 15, 2007. The substitute passed by voice vote in the Senate on February 15, 2007.
• Passed 38 to 0 in the Senate on February 20, 2007.
  Who Voted "Yes" and Who Voted "No"
• Received in the House on February 20, 2007.
  • Referred to the House Agriculture Committee on February 20, 2007.
    • Reported in the House on March 1, 2007, without amendment and with the recommendation that the bill pass.
• Passed 103 to 0 in the House on March 7, 2007, to extend from five to 10 years the term of a $5 million taxpayer-subsidized loan authorized by Public Act 342 of 2004. The loan paid a Saginaw-area sugar beet growers' cooperative to purchase the assets of the Monitor Sugar processing company.
  Who Voted "Yes" and Who Voted "No"
• Signed by Gov. Jennifer Granholm on March 22, 2007.