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2012 -- S 2699 | |
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LC01281 | |
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STATE OF RHODE ISLAND | |
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IN GENERAL ASSEMBLY | |
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JANUARY SESSION, A.D. 2012 | |
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A N A C T | |
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RELATING TO STATE AFFAIRS AND GOVERNMENT - ECONOMIC DEVELOPMENT | |
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CORPORATION | |
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Introduced By: Senators Doyle, Gallo, and Felag | |
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Date Introduced: March 01, 2012 | |
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Referred To: Senate Special Legislation and Veterans Affairs | |
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It is enacted by the General Assembly as follows: | |
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SECTION 1. Chapter 42-64 of the General Laws entitled "Rhode Island Economic |
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Development Corporation" is hereby amended by adding thereto the following section: |
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42-64-36. Combat veterans' small business loan program. – (a) The director of the |
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Rhode Island economic development corporation shall develop a combat veterans' small business |
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loan program. |
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(b) The combat veterans' small business loan program shall: |
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(1) Provide combat veterans with business plan assistance; |
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(2) Promote combat veterans small business loans; |
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(3) Provide small business loans not to exceed fifty thousand dollars ($50,000) per |
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veteran and one million dollars ($1,000,000) in total per year; and |
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(4) Partner with the United States small business administration and private lenders to |
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leverage the funds available to combat veterans seeking to start a small business in Rhode Island. |
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(c) For the purposes of this section, a "combat veteran" means a veteran who has been |
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awarded or who is eligible to be awarded his or her service medal or badge which indicates he or |
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she participated in combat against an armed enemy. |
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SECTION 2. This act shall take effect upon passage. |
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LC01281 | |
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EXPLANATION | |
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BY THE LEGISLATIVE COUNCIL | |
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OF | |
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A N A C T | |
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RELATING TO STATE AFFAIRS AND GOVERNMENT - ECONOMIC DEVELOPMENT | |
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CORPORATION | |
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This act would direct the economic development corporation to develop a combat |
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veterans' small business loan program. |
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This act would take effect upon passage. |
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LC01281 | |
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