The legislature is saying no to a bill that would have guaranteed loans for beginning farmers and small businesses. Although economic concerns caused many to vote against the bill, it was proposed by Senator Annette Dubas of Fullerton who says now is the time to pass these types of bills.
“I really want to emphasize the fact that the state will not ever be at risk to losing any of these dollars, the banks are guaranteeing the loan.”
The bill failed to advance past second round. The state is waiting to hear from the forecasting board and estimations have put the state budget hole at figures as high as one Billion dollars.
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