SF0024 Partnership challenge loan program interest rate.

Bill History

2013-01-14 Senate

S Failed 3rd Reading

2013-01-11 Senate

S Passed 2nd Reading

2013-01-10 Senate

S Passed CoW

2013-01-09 Senate

S Placed on General File

2013-01-09 Senate

S09 Recommended Do Pass

2013-01-08 Senate

S Introduced and Referred to S09

2013-01-08 Senate

S Received for Introduction

2012-12-13 LSO

Bill Number Assigned

Current Bill Text

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WORKING DRAFT
2013
STATE OF
WYOMING
13LSO-0111

SENATE FILE

NO.

SF0024

Partnership
challenge loan program interest rate.

Sponsored by:
Joint Minerals, Business and Economic Development Interim Committee

A BILL

for

AN ACT relating to economic development; amending loan rates under the Wyoming partnership challenge loan program as specified;
and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.
W.S. 9
‑
12
‑
302(
b) is amended to read:

9
‑
12
‑
302.

Wyoming partnership challenge loan program; creation; rulemaking; administration account.

(b)

The
council
,
shall establish all fees and interest rates to be charged for each loan as it is underwritten for this program. The interest rate for loans made under this program shall be
not less than

the lesser of the
prime rate as listed in the
Wall Street Journal
on
the date of loan closing
reduced by one-quarter of one percent (0.25%) or

four percent (4%) per annum. Fees on loans under the program shall be paid monthly and deposited into a program administration account which is continuously appropriated to the council to be expended solely for the purpose of administering this article and loans authorized under it.

Section 2
.
This act is effective July 1, 2013.

(END)

1
SF0024

Partnership challenge loan program interest rate.

Plain English Breakdown

Bill History

Current Bill Text