2011 House Bill 5169

Use state trust funds to back certain small businesses loans

Introduced in the House

Nov. 10, 2011

Introduced by Rep. Vicki Barnett (D-37)

To authorize the creation by banks and other financial institutions of “business development corporations,” through which state-backed loans to certain small businesses proposed by House Bill 5168 would be channeled. Under House Bill 5070, any profits the lenders earn on these transactions would be exempt from the state business tax.

Referred to the Committee on Banking and Financial Services