TOPEKA, Kan. (KSNT) – Kansas Governor Laura Kelly signed a brand new invoice to assist with financial restoration in Kansas Thursday morning. The invoice, Senate Bill 15, permits banks to supply low-interest loans to folks struggling to recuperate from the pandemic.
Throughout a press convention, the governor stated the loans will primarily be going to rural and agricultural communities throughout the state. “It’s going to spur enterprise progress, it’s going to create jobs, and it’s going to offer monetary aid for our farmers and ranchers.” The invoice additionally supplies incentives for builders to construct houses in rural communities.
The governor talked about that that is necessary because the state suffers from a housing scarcity, particularly in rural areas. “That is one other device to goes towards financial restoration,” Kelly stated.
State treasurer Lynn Rogers joined the governor on the signing. Rogers stated the brand new regulation allocates $60 million in loans from the state’s Pooled Cash Funding Board, PMIB, which is comprised of cash accessible from the State Common Fund and tons of of different state funds deposited with the treasurer’s workplace.
Watch the complete invoice signing under:
Senate Invoice 15 will Enact the Kansas financial restoration mortgage deposit program, updating subject of membership necessities of credit score unions and permitting privilege tax deductions on agricultural actual property loans and single household residence loans