l9n/ Oregon

2020 Regular Session

House Bill 4033

Creates program through which certain lenders may receive award moneys to fund accounts out of which lenders may reimburse themselves for losses on certain loans to business owners and entrepreneurs who currently lack access to capital.

Did not become law. It stopped in the House of Representatives's Ways and Means Committee on March 8, 2020. The 2020 session has ended.

What it does

The synopsis the Legislative Assembly published with the bill.

<i>Establishes community lender loan loss account program, authorizing Oregon Business Development Department to enter into contracts with lenders pursuant to which department shall reimburse lenders from moneys in lenders' loan loss accounts for principal financial losses incurred due to default on qualified loans to small Oregon businesses.</i>] <b>Creates program through which certain lenders may receive award moneys to fund accounts out of which lenders may reimburse themselves for losses on certain loans to business owners and entrepreneurs who currently lack access to capital. Authorizes Oregon Business Development Department to offer award moneys to lenders after competitive RFP process. Requires lenders accepting awards to enter into written agreements with department and specifies certain terms of agreements. Requires annual reports from lenders and department setting forth certain information about loan loss account program experience. Sets forth circumstances in which lender may use for any purpose, or be required to repay, balance of award moneys. Requires interim committees of Legislative Assembly related to economic development to evaluate effectiveness of lender loan loss account program not later than September 15, 2022.</b> Appropriates moneys to department for purposes of <b>lender loan loss account </b>program. Allocates lottery funds to Oregon Department of Administrative Services for distribution to Oregon Entrepreneurs Network to support economic needs of Oregon small business ecosystem. Requires matching funds from private, nonprofit or philanthropic sources before distributions may be made. Allocates lottery funds to Oregon Growth Fund to support early stage, small and first-time capital sources to help fill capital gaps encountered by Oregon businesses, especially underserved communities, rural areas and undersupported industry sectors. Declares emergency, effective on passage.

Its course

January 27 to March 8, 2020, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action16 actions on 11 days

In the House of RepresentativesJan 27 to Mar 8 · stopped41 days

Waiting for a committeeJan 27 to Feb 37 days

Economic DevelopmentFeb 3 to Feb 1310 days

RulesFeb 13 to Feb 2411 days

Ways and MeansFeb 24 to Mar 2 · moved on7 days

Capital ConstructionMar 2 to Mar 3 · moved on1 day

Ways and MeansMar 3 to Mar 8 · stopped5 days

Amendments

Each amendment offered, and what became of it.

  • House of Representatives committee amendmentAdopted

    Adopted Feb 24

Text

Each version as the Legislative Assembly printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislative Assembly published it is below.

In the House of Representatives Jan 27 – Mar 8

  1. Jan 27Filed before the session
  2. Feb 3Introduced
  3. Sent to Economic Development
  4. Feb 5Heard in Economic Development
  5. Feb 10Heard in Economic Development
  6. Feb 12Heard in Economic Development
  7. Feb 13Economic Development reported it without a recommendation, and that it go to Rules
  8. Sent to Rules
  9. Feb 21Heard in Rules
  10. Feb 24Rules recommended it as amended, and that it go to Ways and Means
  11. Sent to Ways and Means
  12. Mar 2Sent to Capital Construction Subcommittee
  13. Mar 3Heard in Capital Construction Subcommittee
  14. Heard in Capital Construction Subcommittee
  15. Returned to Ways and Means
  16. Mar 8Died when the session ended
All 16 actions, as published
  1. Jan 27Presession Released to the Public.House of Representatives
  2. Feb 3First reading. Referred to Speaker's desk.House of Representatives
  3. Feb 3Referred to Economic Development with subsequent referral to Ways and Means.House of Representatives
  4. Feb 5Public Hearing held.House of Representatives
  5. Feb 10Public Hearing held.House of Representatives
  6. Feb 12Work Session held.House of Representatives
  7. Feb 13Without recommendation as to passage, be referred to Rules, and then to Ways and Means by prior reference.House of Representatives
  8. Feb 13Referred to Rules by order of Speaker and then Ways and Means by prior reference.House of Representatives
  9. Feb 21Public Hearing and Work Session held.House of Representatives
  10. Feb 24Recommendation: Do pass with amendments, be printed A-Engrossed, and be referred to Ways and Means by prior reference.House of Representatives
  11. Feb 24Referred to Ways and Means by prior reference.House of Representatives
  12. Mar 2Assigned to Subcommittee On Capital Construction.House of Representatives
  13. Mar 3Work Session held.House of Representatives
  14. Mar 3Work Session held.House of Representatives
  15. Mar 3Returned to Full Committee.House of Representatives
  16. Mar 8In committee upon adjournment.House of Representatives