Chapter 523

2014 -- H 8007 SUBSTITUTE A

Enacted 07/08/14

 

A N   A C T

RELATING TO STATE AFFAIRS AND GOVERNMENT - RHODE ISLAND SMALL BUSINESS MINORITY LENDING PROGRAM

Introduced By: Representatives Almeida, Williams, Valencia, Abney, and Hull

Date Introduced: April 02, 2014

 

It is enacted by the General Assembly as follows:

 

SECTION 1. Chapter 42-64 of the General Laws entitled "Rhode Island Economic Development Corporation [For sections effective January 1, 2014, see this version] Rhode Island Commerce Corporation [For sections effective January 1, 2014, see this version]" is hereby amended by adding thereto the following section:

42-64-41. Report regarding small business lending. -- (a) On or before January 15, 2015, the Rhode Island commerce corporation shall prepare a report that identifies options for the creation of programs to provide access to capital for small and micro businesses in low-and-moderate income, minority, and other underserved communities, including women-and-minority-owned businesses.

(b) The report shall include an evaluation of current lending policies and outcomes, as well as suggestions regarding how to increase lending to minority business enterprises. The report shall be provided to the governor, the speaker of the house, the president of the senate, and the chairs of house and senate finance committees. 

SECTION 2. This act shall take effect upon passage.

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LC005295/SUB A
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