Legislation

Title: Economic Development – Small Business Financing – Loan Loss Reserve (Maryland Capital Access Program)
Sponsored by: Delegate Lierman
Status: Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 704
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Establishing a Capital Access Program in the Department of Commerce for the purpose of stimulating opportunities for small businesses that may have difficulty in obtaining business financing to have access to credit by establishing a loan loss reserve program; specifying that certain loans qualify under the Program; requiring a lender to enroll a qualifying loan not more than 30 days after the date of the first disbursement; authorizing a lender to enroll all or a portion of a qualifying loan in an amount not more than $250,000; etc.

Committees

Original:: Economic Matters Click to view Recorded Media

Opposite:: Finance; Budget and Taxation

Committee Testimony

Witness List

Details

Cross-filed with: SB0788

Bill File Type: Regular

Effective Date(s): October 1, 2021

Bill imposes a mandated appropriation in the annual State Budget Bill

History

Legislation History
Chamber House Calendar Date 1/29/2021 Legislative Date 1/29/2021 Action First Reading Economic Matters Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Economic Development – Small Business Financing – Loan Loss Reserve (Maryland Capital Access Program) Proceedings
Chamber House Calendar Date 2/05/2021 Legislative Date 2/05/2021 Action Hearing 2/24 at 1:30 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Economic Matters Proceedings Click to view Recorded Media
Chamber House Calendar Date 3/17/2021 Legislative Date 3/17/2021 Action Favorable with Amendments Report by Economic Matters Proceedings
Chamber House Calendar Date 3/17/2021 Legislative Date 3/06/2021 Action Favorable with Amendments {373296/1 Adopted Proceedings 25AClick to view Recorded Media
Chamber House Calendar Date 3/17/2021 Legislative Date 3/06/2021 Action Second Reading Passed with Amendments Proceedings 25AClick to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Economic Development – Small Business Financing – Loan Loss Reserve (Maryland Capital Access Program) Proceedings
Chamber House Calendar Date 3/18/2021 Legislative Date 3/07/2021 Action Third Reading Passed (111-27) Proceedings 26 Click to view Recorded Media
Chamber Senate Calendar Date 3/19/2021 Legislative Date 2/28/2021 Action Referred Finance Budget and Taxation Proceedings 28BClick to view Recorded Media
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Finance Proceedings Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 4/12/2021 Legislative Date 4/12/2021 Action Favorable Report by Finance Proceedings
Chamber Senate Calendar Date 4/12/2021 Legislative Date 3/22/2021 Action Favorable Adopted Proceedings 47 Click to view Recorded Media
Chamber Senate Calendar Date 4/12/2021 Legislative Date 3/22/2021 Action Second Reading Passed Proceedings 47 Click to view Recorded Media
Chamber Senate Calendar Date 4/12/2021 Legislative Date 3/24/2021 Action Third Reading Passed (47-0) Proceedings 49 Click to view Recorded Media
Chamber House Calendar Date 4/12/2021 Legislative Date 3/30/2021 Action Returned Passed Proceedings 49 Click to view Recorded Media
Chamber Post Passage Calendar Date 5/30/2021 Legislative Date 5/30/2021 Action Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 704 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Economic Development – Small Business Financing – Loan Loss Reserve (Maryland Capital Access Program) Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	1/29/2021	1/29/2021	First Reading Economic Matters
			Text - First - Economic Development – Small Business Financing – Loan Loss Reserve (Maryland Capital Access Program)
House	2/05/2021	2/05/2021	Hearing 2/24 at 1:30 p.m.
			Vote - House - Committee - Economic Matters	Click to view Recorded Media
House	3/17/2021	3/17/2021	Favorable with Amendments Report by Economic Matters
House	3/17/2021	3/06/2021	Favorable with Amendments {373296/1 Adopted	25AClick to view Recorded Media
House	3/17/2021	3/06/2021	Second Reading Passed with Amendments	25AClick to view Recorded Media
			Text - Third - Economic Development – Small Business Financing – Loan Loss Reserve (Maryland Capital Access Program)
House	3/18/2021	3/07/2021	Third Reading Passed (111-27)	26 Click to view Recorded Media
Senate	3/19/2021	2/28/2021	Referred Finance Budget and Taxation	28BClick to view Recorded Media
			Vote - Senate - Committee - Finance	Click to view Recorded Media
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	4/12/2021	4/12/2021	Favorable Report by Finance
Senate	4/12/2021	3/22/2021	Favorable Adopted	47 Click to view Recorded Media
Senate	4/12/2021	3/22/2021	Second Reading Passed	47 Click to view Recorded Media
Senate	4/12/2021	3/24/2021	Third Reading Passed (47-0)	49 Click to view Recorded Media
House	4/12/2021	3/30/2021	Returned Passed	49 Click to view Recorded Media
Post Passage	5/30/2021	5/30/2021	Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 704
			Text - Chapter - Economic Development – Small Business Financing – Loan Loss Reserve (Maryland Capital Access Program)

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Statutes