Plan to help Nebraskans finance businesses killed

Written by The Associated Press

Monday, 08 February 2010 14:30

LINCOLN, Neb. (AP) - Skepticism and state budget woes have killed a bill designed to help provide financing for young farmers, ranchers and businesspeople in Nebraska.

On Monday, Nebraska lawmakers voted down a bill (LB297) from Sen. Annette Dubas of Fullerton that would allow the state to lend money to banks at a low interest rate to spur loans for budding businesses.

Senators expressed concerns the bill would tie up millions of state dollars when the state faces budget problems.

Also, some suggested current programs for young farmers and ranchers aren't getting enough use to justify another one.

State Sen. Dennis Utter of Hastings, a former banker, says many banks have enough money to provide loans without help from the state.

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