| SB 0998 | Authorizes the establishment of Business and Industrial Development Companies |
| Sponsor: | Flotron | |||
| LR Number: | 4476S.01I | Fiscal Note: | 4476-01 | |
| Committee: | Local Government and Economic Development | |||
| Last Action: | 02/29/00 - Hearing Conducted S Local Government & Economic | Journal page: | ||
| Development Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 2000 | |||
SB 998 - This act authorizes the creation of Business and Industrial Development Companies (BIDCOs) to provide financing assistance and management assistance to business firms.
The Business and Industrial Development Company (BIDCO) is
licensed by the Director of the Department of Economic
Development. Rules and licensing requirements are set by the
Director to ensure that the BIDCO operates to provide such
financing assistance and a return on investments in a sound
manner.
DAVID TALLMAN