Did not become law. It stopped in the House of Representatives's Economic Recovery and Prosperity Committee on June 26, 2021. The 2021 session has ended.
2021 Regular Session
House Bill 2563
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.
What it does
The synopsis the Legislative Assembly published with the bill.
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 reserve 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 reserve account program not later than September 15, 2023. Appropriates moneys to department for purposes of lender loan loss reserve account 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.
Sponsors
Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.
In the House of Representatives
Sponsor
3 co-sponsors
In the Senate
1 co-sponsor
Its course
January 11 to June 26, 2021, 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 action3 actions on 3 days
In the House of RepresentativesJan 11 to Jun 26 · stopped166 days
Waiting for a committeeJan 11 to Jan 198 days
Economic Recovery and ProsperityJan 19 to Jun 26 · stopped158 days
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 11 – Jun 26
- Jan 11Introduced
- Jan 19Sent to Economic Recovery and Prosperity
- Jun 26Died when the session ended
All 3 actions, as published
- Jan 11First reading. Referred to Speaker's desk.House of Representatives
- Jan 19Referred to Economic Recovery and Prosperity with subsequent referral to Ways and Means.House of Representatives
- Jun 26In committee upon adjournment.House of Representatives