1997 Regular Session

SENATE BILL 257

CHAPTER NUMBER: 570 File Code: Economic and Community Development Crossfiled with: HOUSE BILL 85
Sponsored By:
Senators Young, Trotter, and McFadden
Entitled:
MSBDFA - Management Group Contract and Equity Participation Investment Program

Synopsis:

Authorizing the Department of Business and Economic Development to extend the expiration date of its contract with the MSBDFA Management Group, Inc. to June 30, 2002 and to renew the contract for 1 additional 5-year term; requiring the Department to include specified performance standards in any contract extension or renewal; increasing the maximum amount of MSBDFA's participation in franchises through the Equity Participation Program; removing the $3 million annual cap on total equity participation financing; etc.

Legislative History

Senate Action
1/22
First Reading Finance
1/24
Hearing 2/5 at 1:00 p.m.
3/3
Favorable with Amendments Report by Finance
3/4
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/6
Third Reading Passed (44-0)
3/31
Returned Passed
5/22
Signed by the Governor Chapter 570
House Action
3/7
First Reading Economic Matters
3/17
Hearing 3/20 at 1:00 p.m.
3/28
Favorable Report by Economic Matters
3/26
Favorable Report Adopted
Second Reading Passed
3/27
Third Reading Passed (133-0)
Sponsored by:
Senator Larry Young, District 44
Senator Nathaniel J. McFadden, District 45
Senator Decatur W. Trotter, District 24
Bill indexed under the following Subjects:
BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF
COMMERCE AND BUSINESS -see also- SMALL BUSINESS
CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
FRANCHISES
INVESTMENTS
SMALL BUSINESS
Bill affects the following Statutes:
Article - 83A Department of Business and Economic Development
( 5-1009 , 5-1025 , 5-1046 )

Documents:

Bill Text:
First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)

Amendments:
Senate
Number: 537746/1 (PDF) Offered on: MARCH 4, 1997 at: 11:09 Status: Adopted