H.B. No. 0052

Challenge loan program.

Sponsored By: Joint Minerals, Business and Economic Development Interim Committee

AN ACT relating to administration of government; providing for guaranteed loan participation under the Wyoming partnership challenge loan program; providing limitations; and providing for an effective date.

12/20/2004 Bill Number Assigned

1/11/2005 H Received for Introduction

1/11/2005 H Introduced and Referred to H09

1/24/2005 H09 Recommended Amend and Do Pass

ROLL CALL

Ayes: Representative(s) Brechtel, Esquibel, Hammons, Harvey, Hinckley, Latta, Lockhart, Quarberg and Samuelson

Ayes 9 Nays 0 Excused 0 Absent 0 Conflicts 0

1/24/2005 H Placed on General File

HB0052HS001/ADOPTED

Page 1-line 2 After "participation" insert "and loan guarantees".

Page 2-line 7 After "less" delete "." insert ";".

Page 2-After line 7 Insert:

"(viii) "Loan guarantee" means a provision of financing by the council in which the council guarantees a portion of a bank loan made to a business. The guarantee shall not exceed eighty percent (80%).".

Page 2-line 17 Delete "(e)" insert "(f)".

Page 3-line 4 Delete "(e)" insert "(f)".

Page 3-line 10 After "Loans" insert ","; strike "or"; after "commitments" insert "or loan guarantees".

Page 3-line 21 Delete "or" insert ",".

Page 3-line 24 Before ";" insert "or if the amount to a business for a loan guarantee does not exceed eighty percent (80%) of the bank loan as provided under subsection (f) of this section".

Page 4-line 9 Delete "guaranteed" insert "participated in".

Page 4-After line 17 Insert:

"(f) Any business with operations in Wyoming may apply to the council for a loan guarantee as defined in the W.S. 9-12-301(a)(viii). The council shall prescribe the form and contents of the application. The council shall review each application and make a determination as soon as practicable. The council shall structure any loan guarantee so that in the event of default of any loan that is guaranteed under this subsection:

(i) Liability to the state under the guarantee shall not exceed one hundred thousand dollars ($100,000.00) per loan guaranteed or eighty percent (80%) of any net loan loss by the bank, whichever is less; and

(ii) The interest of the state and the lending institution shall have priority over any claim of the business receiving the financing or other third party.". LOCKHART, CHAIRMAN

1/26/2005 H Passed CoW

1/27/2005 H Passed 2nd Reading

HB0052H3001/ADOPTED

Page 1-line 9 After "(b)(i)" insert ", (ii)".

Page 2-After line 7 In the standing committee amendment (HB0052HS001/A) to this line delete "The guarantee shall not exceed eighty percent (80%)."

Page 3-line 24 Delete the standing committee amendment (HB0052HS001/A) to this line; before ";" insert "or if the amount to a business for a loan guarantee does not exceed one hundred thousand dollars ($100,000.00) per loan guaranteed or eighty percent (80%) of any net loan loss by the bank, whichever is less".

Page 3-After line 24 Insert:

"(ii)  If there are sufficient funds in the economic development enterprise account to fully fund it and all other outstanding commitments, and loans, loan guarantees and guarantee loan participations;".

Page 4-After line 17 In the standing committee amendment (HB0052HS001/A) to this line delete "with operations in Wyoming". LOCKHART

1/28/2005 H Passed 3rd Reading

ROLL CALL

Ayes: Representative(s) Alden, Anderson, R., Bagby, Barnard, Berger, Brechtel, Brown, Buchanan, Bucholz, Childers, Cohee, Davison, Diercks, Edwards, Esquibel, Gay, Gilmore, Gingery, Goggles, Hageman, Hammons, Harshman, Harvey, Hastert, Hinckley, Iekel, Illoway, Jones, Jorgensen, Lockhart, Lubnau, Luthi, Martin, McOmie, Meuli, Miller, Morgan, Olsen, Osborn, Pedersen, Petersen, Philp, Powers, Quarberg, Reese, Robinson, Semlek, Simpson, Slater, Thompson, Walsh, Warren, Wasserburger, Watt, White and Zwonitzer.

Nays: Representative(s) Landon

Excused: Representative(s) Jackson, Latta and Samuelson.

Ayes 56 Nays 1 Excused 3 Absent 0 Conflicts 0

1/31/2005 S Received for Introduction

2/1/2005 S Introduced and Referred to S09

2/2/2005 S09 Recommended Amend and Do Pass

ROLL CALL

Ayes: Senator(s) Coe, Hawks, Jennings, Townsend and Vasey

Ayes 5 Nays 0 Excused 0 Absent 0 Conflicts 0

2/2/2005 S Placed on General File

HB0052SS001/ADOPTED (TO ENGROSSED COPY)

Page 5-line 10 After "defined in" delete "the". HAWKS, CHAIRMAN

2/9/2005 S Passed CoW

2/10/2005 S Passed 2nd Reading

2/11/2005 S Passed 3rd Reading

ROLL CALL

Ayes: Senator(s) Anderson, J., Aullman, Barrasso, Boggs, Burns, Coe, Cooper, Decaria, Geis, Hanes, Hawks, Hines, Jennings, Job, Johnson, Larson, Massie, Meier, Mockler, Nicholas, Northrup, Peck, Ross, Schiffer, Scott, Sessions, Townsend, Vasey and Von Flatern.

Nays: Senator(s) Case

Ayes 29 Nays 1 Excused 0 Absent 0 Conflicts 0

2/14/2005 H Did Concur

ROLL CALL

Ayes: Representative(s) Alden, Anderson, R., Bagby, Barnard, Berger, Brechtel, Brown, Buchanan, Bucholz, Childers, Cohee, Davison, Diercks, Edwards, Esquibel, Gay, Gilmore, Gingery, Goggles, Hageman, Hammons, Harshman, Harvey, Hastert, Hinckley, Iekel, Illoway, Jones, Landon, Latta, Lockhart, Lubnau, Luthi, Martin, McOmie, Meuli, Miller, Morgan, Olsen, Osborn, Pedersen, Petersen, Philp, Powers, Quarberg, Reese, Robinson, Samuelson, Semlek, Simpson, Slater, Thompson, Walsh, Warren, Wasserburger, Watt, White and Zwonitzer.

Excused: Representative(s) Jackson and Jorgensen.

Ayes 58 Nays 0 Excused 2 Absent 0 Conflicts 0

2/14/2005 Assigned Number HEA No. 0029

2/15/2005 H Speaker Signed HEA No. 0029

2/16/2005 S President Signed HEA No. 0029

2/18/2005 Governor Signed HEA No. 0029

2/18/2005 Assigned Chapter Number

Chapter No. 0053 Session Laws of Wyoming 2005.