Bill > S03766

This bill creates the federal contract workers assistance program, which allows the state to provide loans to certain small businesses that have contracts with the federal government and have been negatively affected financially due to a federal government shutdown. The program has specific eligibility criteria, an application and approval process, and requirements for how the loan funds can be used. The loans must be repaid within 12 calendar months and the amount of the loans will be determined by the commissioner, subject to available appropriations. The bill also authorizes the commissioner to promulgate rules and regulations to carry out the provisions of the program.