L.C. 8.7: Lincoln Small Business Administration Act

[S019]

Lincoln Small Business Administration Act
To establish a Lincoln Small Business Administration

Be it enacted by the Government of the Region of Lincoln

1. A department shall be established called the "Lincoln Small Business Administration"
2. The Lincoln Small Business Administration shall have a budget of $250 million dollars each year.
3. The Lincoln Small Business Administration shall give grants and loans under $50,000 for small businesses that have under $100,000 dollars of net revenue each year.
4. The Lincoln Small Business Administration shall start on tbd.

Sponsor: Ninja0428

Debate on this has begun and shall last for at least 72 hours

[S019]

I'm going to be frank here, I don't think we'll be able to afford this, but I'll wait for the scores to come in before deciding how to deal with this.

[Sirius_]

I don't believe that 250 million will be too big of a deal for something that will ultimately end up stimulating our economy.

[S019]

I don't believe that 250 million will be too big of a deal for something that will ultimately end up stimulating our economy.

I think this is a good point, however this bill still needs to be amended anyways, for instance I think tiering the grants and loans based off of net revenue is a much better system for figuring out how to loan out money, and this also needs a starting date. So, this can't be passed in its current form, if I have time, I will write up an amendment tonight

[Sirius_]

Where is the amendment?

[S019]

Where is the amendment?

I said if I had time, and I'm still waiting on the CG to figure out a rough estimate for this, I sent him a reminder a few days ago, hopefully I hear back

But anyways, I'll do it right now, since I have a few minutes:

Lincoln Small Business Administration Act
To establish a Lincoln Small Business Administration

Be it enacted by the Government of the Region of Lincoln

1. A department shall be established called the "Lincoln Small Business Administration"
2. The Lincoln Small Business Administration shall have a budget of $250 million dollars each year.
3. The Lincoln Small Business Administration shall give grants and loans under $50,000 for small businesses that have under $100,000 dollars of net revenue each year.
3a. Business with an income below $25,000 shall receive a loan of $50,000
3b. Business with an income between $25,000 and $50,000 shall receive a loan of $35,000
3a. Business with an income between $50,000 and $75,000 shall receive a loan of $20,000
3a. Business with an income between $75,000 and $100,000 shall receive a loan of $10,000
4. The Lincoln Small Business Administration shall start on tbd December 31, 2020.

This seems like a good preliminary fix, again this is just to show more or less what I was thinking

[Sirius_]

The language of the amendment confuses me, it implies that all small businesses are receiving a certain loan depending on their size? At what rate? Are needs accounted for? I understand the idea of a sliding scale for this but it doesn't quite seem right. I would prefer for this not to be adopted, but that we don't hold a vote on it until a counter amendment is proposed, if that is possible.

[S019]

The language of the amendment confuses me, it implies that all small businesses are receiving a certain loan depending on their size? At what rate? Are needs accounted for? I understand the idea of a sliding scale for this but it doesn't quite seem right. I would prefer for this not to be adopted, but that we don't hold a vote on it until a counter amendment is proposed, if that is possible.

No one objected, so it's added to the bill, so when we do have a counter proposal, the vote on it will effectively be a vote between this and the counter proposal, also this amendment wasn't meant to be final

[Continential]

The language of the amendment confuses me, it implies that all small businesses are receiving a certain loan depending on their size? At what rate? Are needs accounted for? I understand the idea of a sliding scale for this but it doesn't quite seem right. I would prefer for this not to be adopted, but that we don't hold a vote on it until a counter amendment is proposed, if that is possible.

No one objected, so it's added to the bill, so when we do have a counter proposal, the vote on it will effectively be a vote between this and the counter proposal, also this amendment wasn't meant to be final

Shouldn't the Administration decide?

[S019]

Not sure what to do here honestly, a competing proposal would be nice