State Treasurer Sarah Steelman expects to revive a dormant program run by her office. Former Treasurer Nancy Farmer suspended the link deposit program, because the state couldn’t effectively offer lower interest rates than businesses could get on the open market. Though interest rates remain very low, the program could make a comback under Steelman if she can get the Legislature to agree to some changes. Steelman says current law allows no flexibility, making it difficult for the program to adapt to current economic conditions. The link deposit program offers low-interest loans to businesses which promise to bring jobs to the state. Steelman says a few changes in the law could make the program viable again.
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