Legislature(2017 - 2018)BELTZ 105 (TSBldg)
04/23/2018 08:00 AM Senate LABOR & COMMERCE
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| Audio | Topic |
|---|---|
| Start | |
| HB340 | |
| HB343 | |
| HB262 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| + | HB 340 | TELECONFERENCED | |
| + | HB 343 | TELECONFERENCED | |
| + | HB 262 | TELECONFERENCED | |
HB 340-REPEAL BIDCO ASSISTANCE PROGRAM
7:58:54 AM
CHAIR COSTELLO announced the consideration of HB 340.
7:59:07 AM
MIKE NAVARRE, Commissioner, Department of Commerce, Community
and Economic Development, introduced HB 340. He explained that
the BIDCO Program was established in 1992. In 2004 a loan and
financial assistance piece was added, but the legislature never
funded the program. HB 340 removes that piece from the statutes.
CHAIR COSTELLO asked if the department oversees a similar
program or if this was simply an unused program.
COMMISSIONER NAVARRE explained that loans are available through
AIDEA for business and industrial development and there are also
several different loans within the department. The BIDCO loan
program was intended to be like the Small Business
Administration (SBA) and provide loans to businesses, but the
legislature determined there were other opportunities in the
financial market to meet the need.
8:00:53 AM
CHAIR COSTELLO opened public testimony on HB 340. Finding no one
who wished to comment, she closed public testimony.
8:01:14 AM
SENATOR MEYER moved to report HB 340, version A, from committee
with individual recommendations and attached fiscal note(s).
CHAIR COSTELLO found no objection and HB 340 moved from the
Senate Labor and Commerce Standing Committee.