North Carolina 2019-2020 Session Status: In Committee Bipartisan · 4 D · 1 I · 1 R cosponsors

HB 689 — Micro-Business Development Loan Program.

Last action — Passed 1st Reading

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2019-2020 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

52 added · 50 removed

Plain-language change summary

The updated version of House Bill 689 has added a section emphasizing that funds will be prioritized for projects that create or retain jobs, especially for minority and women-owned micro-businesses. Additionally, it clarifies that community development financial institutions will be selected through competitive solicitations, potentially allowing more diverse organizations to participate, particularly if traditional banks aren't suitable. This change is significant because it aims to ensure economic support reaches underserved communities and fosters job growth in those areas.

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GENERAL ASSEMBLY OF NORTH CAROLINA H.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2019 H 1 HOUSE BILL 689 Short Title:
689 Apr 10, 2019 SESSION 2019 HOUSE PRINCIPAL CLERK H D HOUSE BILL DRH10402-MC-123A Short Title:
For a complete list of sponsors, refer to the North Carolina General Assembly web site.
A BILL TO BE ENTITLED AN ACT TO CREATE THE MICRO-BUSINESS DEVELOPMENT LOAN PROGRAM.
Commerce, if favorable, Finance, if favorable, Rules, Calendar, and Operations of the House April 11, 2019 A BILL TO BE ENTITLED AN ACT TO CREATE THE MICRO-BUSINESS DEVELOPMENT LOAN PROGRAM.
(2) The funds shall be prioritized (i) for projects that are reasonably anticipated to result in the creation of new jobs, the retention of existing jobs, or other *DRH10402-MC-123A* General Assembly Of North Carolina Session 2019 beneficial economic development and (ii) to recipients that are minority-owned qualifying micro-businesses, women-owned qualifying micro-businesses, or other qualifying micro-businesses for which traditional credit markets are unavailable.
*H689-v-1* General Assembly Of North Carolina Session 2019 (2) The funds shall be prioritized (i) for projects that are reasonably anticipated to result in the creation of new jobs, the retention of existing jobs, or other beneficial economic development and (ii) to recipients that are minority-owned qualifying micro-businesses, women-owned qualifying micro-businesses, or other qualifying micro-businesses for which traditional credit markets are unavailable.
Page 2 DRH10402-MC-123A
Page 2 House Bill 689-First Edition
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Action History

  1. Passed 1st Reading

  2. Ref to the Com on Commerce, if favorable, Finance, if favorable, Rules, Calendar, and Operations of the House

  3. Filed

Sponsors

Sponsorship breakdown

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2 sponsors · 10 co-sponsors · 167 not signed on

Sponsors (2)

  • Alexander
  • Meyer

Co-sponsors (10)

Not signed on (167)

167 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

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Frequently asked questions

Who sponsors HB 689?
HB 689 is sponsored by Alexander, Meyer, Cynthia Ball (Democratic), Farmer-Butterfield, Graham, Pricey Harrison (Democratic), Lucas, R. Smith, Nasif Majeed (U), Joe John (Democratic), Becky Carney (Democratic), and Stephen M. Ross (Republican).
What is the current status of HB 689?
This bill died with 2019-2020 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 689?
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