(a) There is hereby established the Kansas export loan guarantee review committee within the department of commerce. The committee shall consist of five members all of whom have appropriate experience and expertise in areas of commercial finance. At least two members shall have experience in commercial finance from the perspective of a borrower and at least two members shall have experience and expertise in international finance. The members of the committee shall be appointed by the governor, subject to confirmation by the senate as provided in Kan. Stat. Ann. § 75-4315b, and amendments thereto. Except as provided by Kan. Stat. Ann. § 46-2601, and amendments thereto, no person appointed to the committee shall exercise any power, duty or function as a member of the committee until confirmed by the senate. Except as provided by subsection (b), members shall serve until a successor is appointed and confirmed. Not more than three members of the committee shall be of the same political party.

(b) The terms of members who are serving on the committee on the effective date of this act shall expire on January 15, of the year in which such member’s term would have expired under the provisions of this section prior to amendment by this act. Thereafter, members shall be appointed for terms of four years and until their successors are appointed and confirmed.

Terms Used In Kansas Statutes 74-5073

  • Act: means the provisions of Kan. See Kansas Statutes 74-50,211
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • committee: means the community strategic planning grant committee established by Kan. See Kansas Statutes 74-5093
  • department: means the department of commerce;

    (4) "entrepreneur" means an individual creating a new business, service or product;

    (5) "region" means multi-county areas as defined by the secretary of commerce;

    (6) "regional business development fund" means an authorized and audited fund that is created by taxpayer contributions, interest income and investment income and is managed by the regional foundation board of directors for the purposes of economic and leadership development in the region;

    (7) "regional foundation" means any organization in Kansas that demonstrates capacity to provide economic development services to regions as defined by this act, and: (A) Has obtained a ruling from the internal revenue service of the United States department of treasury that such organization is exempt from income taxation under the provisions of section 501(c)(3) or 501(c)(6) of the federal internal revenue code;

    (B) has been designated as a certified development company by the United States small business administration;

    (C) has been designated as an economic development district by the United States department of commerce's economic development administration;

    (D) has been organized as a regional planning commission under Kan. See Kansas Statutes 74-50,154

  • Quorum: The number of legislators that must be present to do business.
  • Secretary: means the secretary of commerce. See Kansas Statutes 74-5059

(c) The committee shall review all proposals for Kansas export loan financing guarantees under Kan. Stat. Ann. § 74-5072, and amendments thereto and shall approve those proposals that the committee deems to represent reasonable risks and to have a sufficient likelihood of repayment. The committee shall advise the secretary of commerce on matters under this act when requested by the secretary and may provide such advice when deemed appropriate by the committee. The committee shall submit an annual report of its activities as a part of the department’s annual report pursuant to Kan. Stat. Ann. § 74-5049, and amendments thereto.

(d) The secretary of commerce shall serve as a nonvoting chairperson of the committee, and the committee shall annually elect a vice-chairperson from among its members. The committee shall meet upon call of the chairperson or upon call of any two of its members. Three voting members shall constitute a quorum for the transaction of business.

(e) Members of the Kansas export loan guarantee review committee attending meetings of the committee, or attending a subcommittee meeting thereof authorized by the committee, shall be paid compensation, subsistence allowances, mileage and other expenses as provided in Kan. Stat. Ann. § 75-3223, and amendments thereto.

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