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Bill Summary · SB 104

Summary of SB 104: Expanding Access to Low-Cost Capital

Bill Overview

Bill Number: SB 104
Title: Expanding access to low-cost capital to certain eligible projects and entities
Status: Chapter Number Assigned
Introduced: October 04, 2024
Classification: Bill
Subject Areas: Bond Issues, Public; Property; State Finance; State Government

Purpose and Intent

The primary intent of SB 104 is to enhance the availability of low-cost capital for specific projects and entities that meet certain eligibility criteria. This legislation aims to stimulate economic growth, support public infrastructure, and promote development initiatives by making financing more accessible.

Key Provisions

  • Eligibility Criteria: The bill outlines specific criteria that projects and entities must meet to qualify for low-cost capital. While the exact criteria are not detailed in the provided information, they typically include factors such as project type, community impact, and financial need.

  • Funding Mechanism: SB 104 establishes a framework for issuing bonds or other financial instruments that will provide the necessary capital to eligible projects. This may involve state-backed financing options to reduce borrowing costs.

  • Oversight and Administration: The bill likely includes provisions for the oversight of the funding process, ensuring that funds are allocated appropriately and that projects adhere to the established eligibility criteria.

Impact

Who Will Be Affected?

  • Eligible Projects: Public infrastructure projects, community development initiatives, and other qualifying entities will benefit from increased access to low-cost capital.

  • State and Local Governments: The bill may impact how state and local governments finance projects, potentially leading to more efficient use of taxpayer funds.

  • Economic Development: By facilitating access to affordable financing, the bill aims to stimulate job creation and economic growth within the state.

Legislative Timeline

  • Introduced: October 04, 2024
  • Signed by Governor: April 16, 2025
  • Chapter Number Assigned: April 17, 2025

Key Legislative Actions

  • The bill underwent multiple readings and committee reviews in both the Senate and House before being signed into law.
  • Significant actions include:
    • March 31, 2025: The House concurred on the bill after a third reading.
    • March 29, 2025: The House Appropriations Committee reported the bill favorably.
    • February 28, 2025: The Senate passed the bill after a third reading and transmitted it to the House.

Conclusion

SB 104 represents a significant step towards improving access to low-cost capital for eligible projects and entities, with the potential to enhance public infrastructure and stimulate economic development. The bill's successful passage reflects a commitment to fostering growth and supporting community initiatives through innovative financing solutions.

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

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