An Act To Amend Title 5 Of The Delaware Code Relating To The Delaware Community Investment Venture Fund.
Impact
The legislation is expected to significantly amend existing state laws regarding community investment and financial services. By establishing the Delaware Community Investment Venture Fund, the bill shifts the focus towards providing targeted support for low- to moderate-income tracts, which may not traditionally receive as much investment or financial assistance. This framework is anticipated to not only enhance lending and investment opportunities within these communities but also to stimulate local economies by ensuring that businesses have access to the necessary capital and resources to flourish.
Summary
Senate Bill 83 aims to establish the Delaware Community Investment Venture Fund, a dedicated fund intended to enhance financial services access for businesses located in low- to moderate-income areas within the state. This new fund will facilitate investments in innovative financial products and services aimed at supporting businesses in these communities, thereby improving their overall economic prospects. By identifying and deploying effective financial solutions, the bill intends to create measurable economic growth and stability in underserved areas of Delaware.
Sentiment
Overall, the sentiment surrounding SB83 appears to be positive, with support likely stemming from those advocating for economic equality and enhanced support for disadvantaged communities. Legislators and proponents argue that the bill represents a progressive step towards addressing economic disparities in Delaware. However, as with many initiatives focused on community funding, there may also be factions concerned about the fund's operational effectiveness and how well it will truly serve its purpose once established.
Contention
Notable points of contention may arise primarily around the management and allocation of the Delaware Community Investment Venture Fund. Questions may be raised concerning how the fund will be financed, including whether the proposed amounts from the State Bank Commissioner Regulatory Revolving Fund will be sufficient, and who will oversee the fund’s expenditures. Additionally, some stakeholders might challenge how the criteria for determining what constitutes a low- to moderate-income tract will be defined and applied in practice, potentially affecting the distribution of resources.
Resolution Granting The Claims Commissioner An Extension Of Time To Dispose Of Certain Claims Against The State Pursuant To Chapter 53 Of The General Statutes.
Resolution Granting The Claims Commissioner An Extension Of Time To Dispose Of Certain Claims Against The State Pursuant To Chapter 53 Of The General Statutes.