Legislation

Title: Economic Development – Small Business Financing – Loan Loss Reserve (Maryland Capital Access Program)
Sponsored by: Senators Hester, Feldman, West, Peters, Kramer, and Kagan
Status: In the Senate - Hearing 3/16 at 1:00 p.m. (Finance)
Analysis: Fiscal and Policy Note

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:: Finance Click to view Recorded Media; Budget and Taxation

Committee Testimony

Witness List

Details

Cross-filed with: HB0829

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 Senate Calendar Date 2/09/2021 Legislative Date 2/09/2021 Action First Reading Finance and Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Economic Development – Small Business Financing – Loan Loss Reserve (Maryland Capital Access Program) Proceedings
Chamber Senate Calendar Date 2/10/2021 Legislative Date 2/10/2021 Action Hearing 3/16 at 1:00 p.m. (Finance) Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	2/09/2021	2/09/2021	First Reading Finance and Budget and Taxation
			Text - First - Economic Development – Small Business Financing – Loan Loss Reserve (Maryland Capital Access Program)
Senate	2/10/2021	2/10/2021	Hearing 3/16 at 1:00 p.m. (Finance)

File Code

Subjects

Statutes