To increase the amount of funding available for the Linked Deposit Program from $100 million to $200 million per year. The Linked Deposit Program is designed to increase access to business capital for minority-owned and women-owned businesses. The program offers loans at reduced interest rates from participating financial institutions. See companion SB 5666.   Official Text and Analysis.

To authorize the State Treasurer to use up to $200 million of short-term state treasury surplus funds for the Linked Deposit Program.

To provide that the office of minority and women's business enterprises has certain rule-making authority to: Ensure priority to businesses that have never received a loan under the program; limit total principal loan amounts received during the lifetime of the business and the lifetime of the business owner; and limit the total amount of any single qualified loan under the program.

To make a technical correction.

To authorize the State Treasurer to use up to $150 million for the linked deposit program. The expansion of the program is made contingent on funding being appropriated in the state budget, but a determination by the State Treasurer is not required for the bill to take effect.