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Bill

SB 2812

Bonds; create a rural counties and municipalities emergency infrastructure loan program and authorize issuance of bonds.

2025 Regular Session Introduced by David Blount and 7 co-sponsors

Creates a rural counties emergency infrastructure loan program funded by bonds to provide upfront funds for urgent rural projects; would incur debt service; died in committee.

Died In Committee
#finance
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Bill Summary · SB 2812

Summary of SB 2812

Overview

SB 2812 is a finance-related bill that would create a rural counties and municipalities emergency infrastructure loan program and authorize the issuance of bonds to fund that program. The measure is currently listed as “Died In Committee,” with a companion bill HB 5603.

Purpose and intent

  • Establish a dedicated loan program to support emergency infrastructure needs in rural counties and municipalities.
  • Provide funding for the program through the issuance of bonds, enabling upfront capital for eligible projects and repayment over time.

Key provisions (as described by the bill’s title)

  • Creation of a rural counties and municipalities emergency infrastructure loan program.
  • Authorization for the issuance of bonds to fund the program.
  • (Note: The specific design details—such as eligibility criteria, project types, loan terms, interest rates, repayment schedules, governance, administration, and reporting requirements—are not provided in the available information.)

Affected entities

  • Rural counties and municipalities that would seek emergency infrastructure loans.
  • The state or a designated state financing or issuing authority responsible for bond issuance (mechanics and governance not specified in the provided materials).
  • Taxpayers and future residents who would be affected by debt service associated with bond issuance, pending the bill’s specifics.

Legislative history and timeline

  • Referred to Finance: January 20, 2025.
  • Died In Committee: February 26, 2025.
  • Introduced: March 14, 2025.
  • Received by the Secretary of the Senate: March 14, 2025.
  • Filed: March 14, 2025.
  • Read first time: April 7, 2025.
  • Referred to Transportation: April 7, 2025.
  • Status: Died In Committee (no enactment in this session based on current record).

Related legislation

  • Companion bill: HB 5603.

Potential impact and considerations

  • Economic and infrastructure impact: If enacted, the program could provide upfront funding for emergency infrastructure repairs or upgrades in rural areas, potentially speeding recovery and resilience.
  • Financing considerations: Bond funding would create a debt obligation; details on terms, security, and repayment would drive long-term costs and fiscal impact.
  • Implementation: Successful deployment would require clear eligibility criteria, project prioritization, loan administration, and oversight to ensure efficiency and accountability.

Notes for readers

  • Because the bill died in committee, it did not advance to floor consideration in this session. If interest is renewed, proponents or opponents could revisit the program design, funding level, and governance structure in a future bill, potentially in a companion or similar form.

Compiled from official sources — confirm details with the bill’s official record.

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