Adopted

COMMITTEE AMENDMENT NO 1 PROPOSED TO

Senate Bill No. 3170

BY: Committee

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

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

     AMEND further 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."

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

     AMEND further 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."

     AMEND further on line 203 by striking "its passage" and inserting "July 1, 2007, and shall stand repealed from and after June 30, 2007" in lieu thereof