House Sponsors: MOFFITT-HARTKE-BLACK-BOST-BERNS AND CROTTY. Short description: TREASURER-ROAD GRADER LOANS Synopsis of Bill as introduced: Amends the State Treasurer Act. Provides that the Treasurer shall administer a road grader revolving loan program to provide loans to units local government for the purchase of road graders that are manufactured in the United States of America. Provides that the Treasurer shall determine eligibility for the loans based on need as determined by the Treasurer, and that the loan funds, subject to appropriation, shall be paid out of the Road Grader Revolving Loan Fund, a special fund in the State treasury. Provides that (i) the aggregate outstanding principal amount of loans to any one unit of local government for the purchase of road graders may not exceed $350,000; (ii) the repayment period for the loan may not exceed 15 years; and (iii) the unit of local government must repay each year at least 5% of the principal amount borrowed or the remaining balance of the loan, whichever is less. Provides that the the loan interest is 3% annually. Provides that the Treasurer must adopt rules to administer the program. Amends the State Finance Act to create the Fund. FISCAL NOTE (State Treasurer) HB 4326 will have a financial impact on the State. The start-up costs of this program would depend on the number of local governments to be loaned money in the first year. With 10 local governments, the cost for the loans would be a one-time start-up increase of $1,000,000 to $3,500,000. This money would be repaid over 15 years and could be used to make other loans which would not increase any future years' expenditures. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status