2014 -- H 8007 SUBSTITUTE A | |
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LC005295/SUB A | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2014 | |
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A N A C T | |
RELATING TO STATE AFFAIRS AND GOVERNMENT - RHODE ISLAND SMALL | |
BUSINESS MINORITY LENDING PROGRAM | |
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Introduced By: Representatives Almeida, Williams, Valencia, Abney, and Hull | |
Date Introduced: April 02, 2014 | |
Referred To: House Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 42-64 of the General Laws entitled "Rhode Island Economic |
2 | Development Corporation [For sections effective January 1, 2014, see this version] Rhode Island |
3 | Commerce Corporation [For sections effective January 1, 2014, see this version]" is hereby |
4 | amended by adding thereto the following section: |
5 | 42-64-41. Report regarding small business lending. -- (a) On or before January 15, |
6 | 2015, the Rhode Island commerce corporation shall prepare a report that identifies options for the |
7 | creation of programs to provide access to capital for small and micro businesses in low-and- |
8 | moderate income, minority, and other underserved communities, including women-and-minority- |
9 | owned businesses. |
10 | (b) The report shall include an evaluation of current lending policies and outcomes, as |
11 | well as suggestions regarding how to increase lending to minority business enterprises. The report |
12 | shall be provided to the governor, the speaker of the house, the president of the senate, and the |
13 | chairs of house and senate finance committees. |
14 | SECTION 2. This act shall take effect upon passage. |
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LC005295/SUB A | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO STATE AFFAIRS AND GOVERNMENT - RHODE ISLAND SMALL | |
BUSINESS MINORITY LENDING PROGRAM | |
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1 | This act would require the commerce corporation to prepare a report by January 15, 2015, |
2 | to identify options regarding the creation of programs to access capital for small businesses in |
3 | low, moderate and minority communities. |
4 | This act would take effect upon passage. |
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LC005295/SUB A | |
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