Directs the Joint Legislative Economic Development and Global Engagement Oversight Committee (Committee) to study the potential cost for and anticipated benefits from establishing a program to provide funding for microloans and business training by nonprofit economic development entities across the State for aspiring low-income entrepreneurs. Adds that the purpose of the program is to grant access to commercial credit markets and establish credit to facilitate traditional banking relationships. Lists five required components of the study, including determining the proper term, limits, and eligibility requirements for microloans, as well as other matters the Committee deems relevant. Directs the Committee to report to the 2024 NCGA Session.
BUSINESS MICROLOAN PROGRAM.
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View NCGA Bill Details | 2023-2024 Session |
AN ACT REQUIRING THE JOINT LEGISLATIVE ECONOMIC DEVELOPMENT AND GLOBAL ENGAGEMENT OVERSIGHT COMMITTEE TO STUDY A PROGRAM TO PROVIDE MICROLOANS TO SMALL, LOW-INCOME BUSINESSES WITH LIMITED ACCESS TO COMMERCIAL CREDIT MARKETS.Intro. by Lofton, Harris.
Status: Re-ref Com On Rules, Calendar, and Operations of the House (House action) (May 2 2023)
Bill History:
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Tue, 18 Apr 2023 House: Filed
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Wed, 19 Apr 2023 House: Passed 1st Reading
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Tue, 2 May 2023 House: Reptd Fav
H 774
Bill Summaries:
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Bill H 774 (2023-2024)Summary date: Apr 20 2023 - View Summary
View: All Summaries for Bill