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Gov. Laura Kelly signs Senate Bill 15

Topeka WIBW-TV logo Topeka WIBW-TV 2/26/2021 Reina Flores
a group of people standing in front of a cake: Gov. Laura Kelly signs senate bill 15 © Provided by Topeka WIBW-TV Gov. Laura Kelly signs senate bill 15

TOPEKA, Kan. (WIBW) -Gov. Kelly says she knows people need to recover from the effects of the COVID-19 pandemic and is hoping this bill will help them get there.

Kansas State Treasurer, Lynn Rogers--testified in support of the bill they say will provide financial relief to Kansas small businesses and agriculture operations during the pandemic.

Senate Bill 15 will provide funds to financial institutions through an additional linked deposit program.

It will come with a low-interest rate--

The State treasurer’s office already oversees two linked deposit programs, one related to agriculture and another for housing.

The new linked deposit program will be called the Kansas Economic Recovery Loan Deposit Program.

“Everyone is well aware that we have a huge housing shortage all across the state of Kansas but particularly in the rural communities so this bill is going to light the fire underneath that--it is going to spur business growth and provide financial aid for our farmers and ranchers,” said Kelly.

The new deposit program will go into effect on July 1, 2021.

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