Introduced House Bill (H)

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DIGEST

OSBE study and committee. Establishes the study commission on small business lending (commission). Provides that the commission consists of the following members: (1) One member of the senate appointed by the president pro tempore. (2) One member of the senate appointed by the minority leader of the senate. (3) One member of the house appointed by the speaker. (4) One member of the house appointed by the minority leader of the house. (5) The director of the office of small business and entrepreneurship (OSBE). (6) A representative of the: (A) Indiana Economic Development Corporation; (B) Indiana Bankers Association; (C) Indiana OSBE study and committee. Establishes the study commission on small business lending (commission). Provides that the commission consists of the following members: (1) One member of the senate appointed by the president pro tempore. (2) One member of the senate appointed by the minority leader of the senate. (3) One member of the house appointed by the speaker. (4) One member of the house appointed by the minority leader of the house. (5) The director of the office of small business and entrepreneurship (OSBE). (6) A representative of the: (A) Indiana Economic Development Corporation; (B) Indiana Bankers Association; (C) Indiana Credit Union League; (D) Indiana Chamber of Commerce; and (E) Greater Indianapolis Chamber of Commerce. (7) A representative of each Indiana small business development center regional office as designated by the OSBE. Requires the OSBE to do the following at the direction of the commission: (1) Conduct a study of small business lending in Indiana. (2) Identify and evaluate best practices of financial lending institutions that may help to facilitate small business lending and encourage entrepreneurial growth. (3) Study the feasability of establishing a loan loss reserve account fund for the purpose of broadening access to financing for small businesses in Indiana. (4) Identify the most appropriate agency or office to administer a loan loss reserve account fund. (5) Make a recommendation of an appropriation amount to a loan loss reserve account fund taking into consideration any federal funds that may be available to the state as a result of establishing a loan loss reserve account fund. (6) Determine the fiscal impact to the state of establishing a loan loss reserve account fund. Requires the commission to submit a written report of the study and recommendations of the OSBE and the commission to the legislative council before November 1, 2016. ... View more