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This entry was published on 2014-09-22
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SECTION 222
Monitoring and report
State Finance (STF) CHAPTER 56, ARTICLE 15
§ 222. Monitoring and report. 1. The commissioner of economic
development shall monitor the activities of participating lenders and
businesses and may require periodic reports or other information the
commissioner of economic development deems necessary from participating
lenders and businesses on the status of the linked loans and the
projects to ensure compliance with the provisions and the intent of this
article.

2. On or before February first, nineteen hundred ninety-five, and
annually thereafter the commissioner of economic development shall
submit to the governor, the temporary president of the senate and the
speaker of the assembly a report regarding the activities of the
program. Such report shall contain a statement of the cost of the
program to the state and to the public authorities, considered as a
whole, because of reduced rates on funds invested in linked deposits.
Such report shall also include, but shall not be limited to, the number
and type of linked loans under the program and the amount thereof; the
number and types of lenders making linked loans and of firms receiving
linked loans; the geographic distribution of such lenders and firms; the
approximate number of jobs created or retained as a result of the
program; actions taken by the department of economic development and the
department of financial services to secure the increased participation
of lenders in economic development regions in which fewer than ten
linked loans have been made on or before April first, nineteen hundred
ninety-five; actions taken by the department of economic development to
secure the increased participation of public authorities and public
benefit corporations pursuant to section ninety-two-v of this chapter;
as well as any information the commissioner determines useful in
evaluating the economic benefits of the program.