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Treasurer Fitzpatrick Recognizes Signing of SB 599

Monday, July 06, 2020
Treasurer's name


Jefferson City, MO – Missouri State Treasurer Scott Fitzpatrick today recognized the signing of SB 599 which increases the total amount the Office may invest in Missouri FIRST, the state’s linked deposit program, from $720 million to $800 million. This increase gives the program greater flexibility and ensures that Missouri’s small business and agriculture communities can continue to benefit from this program.

 

“I thank Rep. Jack Bondon and Sen. Justin Brown for their diligent work passing this legislation and Governor Parson for signing the bill today,” Treasurer Fitzpatrick said. “Missouri FIRST is a valuable program for small businesses and farmers across the state—and one that I’m especially proud to oversee as Treasurer because it puts the state’s investment portfolio to work in Missouri. Since taking office I have worked to make this program more beneficial for those who use it and to ensure that the program remains available to those who need it. Today’s action will help do both.”

 

In 2019, Treasurer Fitzpatrick enacted reforms Missouri FIRST to increase the long-term viability of the program. Raising the statutory cap was one of the proposed necessary steps. Additionally, Treasurer Fitzpatrick launched LIFT to help businesses and farms impacted by natural disasters use linked deposits to recover.

 

Information about Missouri FIRST can be found here.

 

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