SDLRC - 2020 Senate Bill 192 - SD Legislature create the small business economic disaster relief subfund, to provide for the transfer of certain funds into the subfund, to authorize the Economic Development Finance Authority to make a grant to the subfund, to provide for the continuous appropriation of the subfund, and to declare an emergency.

On page 2, line 7, of the Introduced bill, delete "No " and insert "A "

On page 2, line 7, of the Introduced bill, delete "may exceed" and insert " under this section must meet each of the following criteria:

(1) The loan may not exceed"

On page 2, line 8, of the Introduced bill, after "dollars" insert ";

(2) The interest rate on the loan must not be at a rate greater than zero percent; and

(3) The loan may not include any fee for processing, administering, or servicing of the loan, except in the case of a default by the borrower"

On page 2, line 13, of the Introduced bill, delete "and interest rate" and insert " date"