Governor Laura Kelly signs the economic stimulus bill
TOPEKA, Kansas (KSNT) – Kansas Governor Laura Kelly signed a new bill Thursday morning to help Kansas’ economic recovery.
The bill, Senate Bill 15, allows banks to offer low-interest loans to people struggling to recover from the pandemic.
At a press conference, the governor said the loans will go mainly to rural and farming communities in the state.
“It will stimulate business growth, create jobs and bring financial relief to our farmers and ranchers. “
The bill also provides incentives for developers to build homes in rural communities.
The governor mentioned that this is important as the state suffers from a housing shortage, especially in rural areas.
“It’s another tool to move towards economic recovery,” Kelly said.
State Treasurer Lynn Rogers joined the governor at the signing.
Rogers said the new law allocates $ 60 million in loans from the Pooled Money Investment Board, PMIB, which includes money available from the General State Fund and hundreds of other state funds deposited with from the treasurer’s office.
Look at the full invoice signature below:
Senate Bill 15 Adopt the Kansas Economic Stimulus Loan Deposit Program, updating the scope of credit union membership requirements and allowing preferred tax deductions on farm home loans and single-family home loans