Bill Text | History of Actions | Background | Title |
Description: Agribusinesses; provide for issuance of bonds to provide loans to for damage from 2005 natural disaster.
Bill Text: [Introduced] [Committee Substitute] [Passed House]
| 1 | 02/16 (H) Referred To Ways and Means | |
| 2 | 02/21 (H) Title Suff Do Pass Comm Sub | |
| 3 | 02/21 (H) Read the Third Time | |
| 4 | 02/22 (H) Committee Substitute Adopted | |
| 5 | 02/22 (H) Passed | |
| 6 | 02/24 (H) Transmitted To Senate | |
| 7 | 02/24 (S) Referred To Finance | |
| 8 | 03/14 (S) Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | Revenue | |
| Revenue | Yes | |
| Vote type required | Three/Fifths |
House Committee:
Senate Committee:
Principal Author: Lane
Additional Authors: Eaton, Robinson (84th), Holloway, Moss, Walley, Watson
Code Sections: A 069-0002-0013, A 069-0002-0019
Title: AN ACT TO AMEND SECTION 69-2-13, MISSISSIPPI CODE OF 1972, TO DIRECT THE MISSISSIPPI DEVELOPMENT AUTHORITY TO PROVIDE FOR A PROGRAM OF LOANS TO AGRIBUSINESSES THAT SUSTAINED A CERTAIN AMOUNT OF DAMAGE AS A RESULT OF A NATURAL DISASTER THAT OCCURRED IN CALENDAR YEAR 2005 AND FOR WHICH A PORTION OF THE DAMAGE WAS NOT REIMBURSED BY INSURANCE; TO SPECIFY THE CONDITIONS THAT AN AGRIBUSINESS MUST MEET TO BE ELIGIBLE FOR A LOAN UNDER THE PROGRAM; TO SPECIFY THE MAXIMUM AMOUNT OF A LOAN THAT MAY BE MADE TO AN AGRIBUSINESS UNDER THE PROGRAM; TO SPECIFY THE PURPOSES FOR WHICH THE PROCEEDS OF A LOAN MAY BE USED; TO PROVIDE THAT MONIES TO MAKE THE LOANS UNDER THE PROGRAM SHALL BE DRAWN FROM THE EMERGING CROPS FUND AND SHALL NOT EXCEED $10,000,000.00 IN THE AGGREGATE; TO PROVIDE THAT NO INTEREST SHALL BE CHARGED ON LOANS MADE UNDER THE PROGRAM; TO DELETE THE PROVISIONS THAT AUTHORIZE THE MISSISSIPPI DEVELOPMENT AUTHORITY TO DRAW FUNDS FROM THE EMERGING CROPS FUND TO PROVIDE LOANS AND LOAN GUARANTIES TO OR ON BEHALF OF ANY AGRIBUSINESS ENTERPRISE ENGAGED IN BEEF PROCESSING FOR THE PURPOSE OF ENCOURAGING THE EXTENSION OF CONVENTIONAL FINANCING AND THE ISSUANCE OF LETTERS OF CREDIT TO SUCH AGRIBUSINESS ENTERPRISES BY PRIVATE INSTITUTIONS; TO AMEND SECTION 69-2-19, MISSISSIPPI CODE OF 1972, TO INCREASE THE MAXIMUM AMOUNT OF STATE GENERAL OBLIGATION BONDS THAT MAY BE ISSUED TO PROVIDE FUNDS FOR THE EMERGING CROPS FUND BY $10,000,000.00; AND FOR RELATED PURPOSES.
End Of Document
2006/html/History/HB/HB1615.htm