SF0026

Official summary

Summary for LSO115 Bill No.: SF0026 Effective Date: 7/1/2015 LSO No.: 15LSO-0079 Enrolled Act No.: SEA 4 Chapter No.: 7 Prime Sponsor: Joint Minerals, Business & Economic Development Interim Committee Catch Title: Challenge loan interest rate. Subject: Challenge loan program – economic development. Summary/Major Elements: Increases the size of loans that can be offered by the Wyoming Business Council under the Challenge Loan Program. The bill increases the bridge financing maximum to $1 million and the guarantee loan participation maximum to $2 million . Sets a new 3% floor for the interest rate charged for Challenge Loan Program loans. Previously, the floor was set at 4%. The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.