78R15280 ATP-D
By: Rodriguez H.B. No. 3298
Substitute the following for H.B. No. 3298:
By: Isett C.S.H.B. No. 3298
A BILL TO BE ENTITLED
AN ACT
relating to amounts deposited in the reserve account of a financial
institution that makes a capital access loan.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 481.408(d), Government Code, is amended
to read as follows:
(d) On receipt of a certification made under Subsection (c)
and subject to Section 481.409, the department shall deposit in the
institution's reserve account for each capital access loan made by
the institution:
(1) an amount equal to the amount deposited by the
institution for each loan if the institution:
(A) has assets of more than $1 billion; or
(B) has previously enrolled loans in the program
that in the aggregate are more than $2 million;
(2) an amount equal to 150 percent of the total amount
deposited under Subsection (b) for each loan if the institution is
not described by Subdivision (1); or
(3) notwithstanding Subdivisions (1) and (2), an
amount equal to 200 percent of the total amount deposited under
Subsection (b) for each loan if:
(A) the borrower is located in or financing a
project, activity, or enterprise in an area designated as an
enterprise zone under Chapter 2303; [or]
(B) the borrower is a small or medium-size
business or a nonprofit organization that operates or proposes to
operate a day-care center or a group day-care home, as those terms
are defined by Section 42.002, Human Resources Code; or
(C) the participating financial institution is a
community development financial institution, as that term is
defined by 12 U.S.C. Section 4702, as amended.
SECTION 2. Section 481.409(b), Government Code, is amended
to read as follows:
(b) The maximum amount the department may deposit into a
reserve account for each capital access loan made under this
subchapter is the lesser of $35,000 or an amount equal to:
(1) eight percent of the loan amount if:
(A) the borrower is located in or financing a
project, activity, or enterprise in an area designated as an
enterprise zone under Chapter 2303; [or]
(B) the borrower is a small or medium-size
business or a nonprofit organization that operates or proposes to
operate a day-care center or a group day-care home, as those terms
are defined by Section 42.002, Human Resources Code; or
(C) the participating financial institution is a
community development financial institution, as that term is
defined by 12 U.S.C. Section 4702, as amended; or
(2) six percent of the loan amount for any other
borrower.
SECTION 3. This Act takes effect September 1, 2003.