2005 House Bill 4558

Show analysis

Introduced in the House

March 24, 2005

Introduced by Rep. Tom Meyer (R-84)

To forgive the $5 million taxpayer-subsidized loan authorized by <a href="http://www.michiganvotes.org/2004-SB-1349">Public Act 342 of 2004</a>. The Saginaw-area sugar beet growers' cooperative that received the zero-interest loan to purchase the assets of the Monitor Sugar processing company would now just be given the money.

Referred to the Committee on Agriculture

April 27, 2005

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

May 12, 2005

Substitute offered

To replace the previous version of the bill with one that extends the payback period of the loan. It would require annual payments of $500,000.

The substitute passed by voice vote

May 17, 2005

Passed in the House 81 to 23 (details)

To extend the payback period of the $5 million taxpayer-subsidized loan authorized by <a href="http://www.michiganvotes.org/2004-SB-1349">Public Act 342 of 2004</a>, requiring annual payments of $500,000. The loan was to a Saginaw-area sugar beet growers' cooperative to purchase the assets of the Monitor Sugar processing company.

Received in the Senate

May 18, 2005

Referred to the Committee on Appropriations