Bill No.: HB0052                  Drafter:  MRW

 

LSO No.:  05LSO-0136              Effective Date:  7/1/2005

 

Enrolled Act No.:  HEA0029

 

Chapter No.:       53

 

Prime Sponsor:     Joint Minerals, Business and Economic Development Interim Committee

 

Catch Title:       Challenge loan program.

 

Subject:  Modifies the challenge loan program.

 

Summary/Major Elements:

 

·        Modifies the challenge loan program by adding a challenge loan participation to allow the Wyoming business council to participate with a bank and sets the allowable loan limits.

 

·        Modifies the challenge loan program by adding a loan guarantee with the liability to the state not exceeding $100,000.00 or 80% of any net loan loss by the bank, whichever is less.