SB 5782-S2 - DIGEST

(DIGEST AS ENACTED)

Declares an intent that funds provided under the linked deposit program shall be used to create jobs and economic opportunity as well as to remedy the problem of a lack of access to capital by minority and women's business enterprises.

Provides that the state treasurer may use up to one hundred million dollars per year of all funds available under this act for the purposes of RCW 43.86A.060. The amounts made available to these public depositaries shall be equal to the amounts of outstanding loans made under RCW 43.86A.060.

Encourages public depositories participating in the linked deposit program to increase the funds available to certified minority and women's business enterprises by taking full advantage of the linked deposit program loans to qualify for the community reinvestment act community programs under federal law (12 U.S.C.S. Sec. 2901 et seq.).

Repeals RCW 43.131.381 and 43.131.382.