REPORT OF CONFERENCE COMMITTEE

 

MADAM PRESIDENT AND MR. SPEAKER:

 

   We, the undersigned conferees, have had under consideration the amendments to the following entitled BILL:

 

S. B. No. 3170:  Bonds; increase amount issued under the MS Business Investment Act for loans & grants to cities & counties for infrastructure.

 

  We, therefore, respectfully submit the following report and recommendation:

 

   1.  That the House recede from its Amendment No. 1.

 

   2.  That the Senate and House adopt the following amendment:

 

 

     AMEND on line 84 by inserting the following before the word "is":

as amended by Senate Bill No. 2535, 2007 Regular Session,

     FURTHER, AMEND on line 147 by inserting "(a)" before the word "The"

     FURTHER, AMEND on line 156 by inserting "(b)" before the word "Under"

     FURTHER, AMEND by inserting the following language after line 164:

          (c)  Under the Capital Access Program a participating financial institution may make a loan that is secured by the assignment of the proceeds of a contract between the borrower and a public entity if the Mississippi Development Authority determines the loan to be qualified under the rules and regulations adopted by the authority.  Under such rules and regulations as may be adopted by the Mississippi Development Authority, a participating financial institution may submit an application to the authority requesting that a loan secured pursuant to this paragraph be funded under the Capital Access Program.

     FURTHER, AMEND on line 165 by inserting "(d)" before the word "Notwithstanding"

     FURTHER, AMEND on line 172 by inserting the following language after the word "Authority":

; however, any portion of the bond proceeds authorized to be utilized by this paragraph that are not utilized for making payments to loss reserve accounts may be utilized by the Mississippi Development Authority to advance funds to financial institutions that participate in the Capital Access Program pursuant to paragraph (c) of this subsection.

 

CONFEREES FOR THE SENATE          CONFEREES FOR THE HOUSE

X (SIGNED)	X (SIGNED)
Thomas E. Robertson	Percy W. Watson
X (SIGNED)	X (SIGNED)
Nickey Browning	Bobby B. Howell
X (SIGNED)	X (SIGNED)
Walter Michel	Frances Fredericks