2006 Senate Bill 1391

Extend term of $5 million loan to sugar beet growers

Introduced in the Senate

Aug. 30, 2006

Introduced by Sen. Jim Barcia (D-31)

To extend from five to 10 years the term of a $5 million taxpayer-subsidized loan authorized by <a href="http://www.michiganvotes.org/2004-SB-1349">Public Act 342 of 2004</a>. The loan paid a Saginaw-area sugar beet growers' cooperative to purchase the assets of the Monitor Sugar processing company. Previous bills have been introduced but not passed to delay any repayment until 2008.

Referred to the Committee on Appropriations