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S.B. 318
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2007 Vetoed Bills and Messages
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Dear Mr. President:
In accordance with Article II, Section 17 of the Maryland Constitution, today I have
vetoed Senate Bill 318 - Maryland Small Business Development Financing Authority -
Financing Limitations.
This bill alters limitations on lending, guarantees, and equity participation financing
by the Maryland Small Business Development Financing Authority in specified
transactions. It alters the maximum amount of a loan guarantee that the Authority
may make using the Contract Financing Fund and alters the maximum amount of a
loan guarantee that the Authority may make using the Guaranty Fund.
House Bill 989, which was passed by the General Assembly and signed by me,
accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate
Bill 318.
Sincerely,
Martin O'Malley
Governor
Senate Bill 318
AN ACT concerning
Maryland Small Business Development Financing Authority - Financing
Limitations
FOR the purpose of altering certain limitations on lending, guarantees, and equity
participation financing by the Maryland Small Business Development
Financing Authority in certain transactions; altering the maximum amount of a
loan guarantee that the Authority may make using the Contract Financing
Fund; altering the maximum amount of a loan guarantee that the Authority
may make using the Guaranty Fund; altering the scope of contracts for which
the Authority may act as a surety and guarantee losses incurred by certain
sureties under the Small Business Surety Bond Program and certain
limitations; altering certain limitations on the amount of equity and investment
that the Authority may own in certain businesses and franchises under the
equity participation financing program; altering certain limitations on the
qualifications of certain enterprises and principals seeking to acquire certain
existing businesses in connection with equity participation financing provided
by the Authority; requiring that certain reports include a certain evaluation;
requiring that the Authority submit certain reports to certain committees of the
General Assembly; providing for the effective date of certain provisions of this
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