620.1072. Microenterprise loan fund created — purpose — lapse into general revenue prohibited — percentage to be reserved for female-owned microenterprises. — 1. The "Microenterprise Revolving Loan Fund" is hereby created in the state treasury. The fund shall consist of all moneys appropriated to it by the general assembly, all gifts, grants and bequests from federal, private or any other source, and all repayment of moneys from eligible lenders, for the purpose of assisting new or expanding microenterprises. Notwithstanding the provisions of section 33.080, no portion of the fund shall be transferred to the general revenue fund at the end of any biennium.
2. Diligent efforts to assure that at least thirty percent of the moneys in the fund shall be available to, and reserved for, female-owned microenterprises.
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(L. 1994 H.B. 1248 & 1048 § 11, A.L. 1997 2d Ex. Sess. S.B. 1)
Effective 12-23-97
---- end of effective 23 Dec 1997 ----
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