05/01/2000 07:02 PM Senate RLS

                                                                                                                                
         HB 238-TAX OBLIGATION LOAN PROGRAM FOR FISHERS                                                                         
                                                                                                                                
CHAIRMAN KELLY explained that a Senate Rules Committee substitute                                                               
is being prepared and that it makes two changes: it contains a two                                                              
year sunset provision and it ensures that the 288 people who have                                                               
already received loans will not be eligible for another loan. This                                                              
bill extends the original program which allows people to get one                                                                
loan during a lifetime.                                                                                                         
                                                                                                                                
SENATOR LEMAN asked if this program is administered through the                                                                 
Department of Community and Economic Development.                                                                               
                                                                                                                                
CHAIRMAN KELLY said as he understands it, this program was                                                                      
"sunsetted out" and this bill revives it for two years.  It allows                                                              
people one loan limited to $30,000.                                                                                             
                                                                                                                                
SENATOR PEARCE suggested waiting for the Senate Rules Committee                                                                 
substitute to arrive before calendaring the bill.                                                                               
                                                                                                                                
SENATOR LEMAN noted the bill will satifsy federal tax obligations.                                                              
                                                                                                                                
CHAIRMAN KELLY announced HB 238 would be heard again the following                                                              
morning.