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Relating to establishing loan programs to assist certain
micro-businesses by increasing access to capital; authorizing
The fiscal implications of the bill cannot be determined at this time due to the amounts of any state funds to be made available for the loan programs and any interest earned on reserve fund deposits being unknown.
HB 3271 would create a new government loan program to allow for-profit "micro-businesses" with 20 employees or less to apply for disaster recovery capital access loans.
Texas Action is opposed to HB 3271 on the principle of limited government. Creating loan programs is not a proper function of state government. A better way for the state to help small businesses recover from disaster is to reduce taxes and regulations which are direct government impediments to prosperity.