SB5175 – Authorizes the Community Economic Revitalization Board to make loans and grants to local governments and tribes for constructing broadband internet infrastructure. (Dead)
Prime Sponsor – Senator Nguyen (D; 34th District; West Seattle)
Current status – Referred to the Senate Committee on Business, Financial Services & Trade; had a hearing January 21st. Passed out of committee January 28th and referred to Ways and Means. Had a hearing there February 11th; passed out of Ways and Means February 16th. Referred to Rules, and placed in the “X” file.
Next step would be – Dead bill.
Legislative tracking page for the bill.

Summary –
The bill would authorize the Community Economic Revitalization Board to make loans and grants to local governments and tribes for constructing open access broadband internet infrastructure, if specifically appropriated funds for that were available. (No more than half the financing it approved in a biennium could go to tribes.)

The board could provide grants or loans for projects to drive job creation, promote innovation, and expand markets for local businesses; or serve the needs of local education systems, health care systems, public safety systems, industries, businesses, governmental operations, and citizens. (The Board could not provide assistance for a project if its primary purpose was facilitating or promoting gambling.)

Applications would have to be approved by the local government and supported by the local associate development organization or local workforce development council, or by the governing body of the tribe. They’d have to demonstrate that no other timely source of funding was available at costs reasonably similar to financing available from the Board, and have a responsible official present during deliberations on the proposal to provide information the Board requested.

When evaluating and prioritizing projects, the board would have to consider at least the project’s value to the community, including evidence of support from affected local businesses and government; its feasibility, using standard economic principles; the commitment of local matching resources and local participation; its inclusion in a capital facilities plan, comprehensive plan, or local economic development plan; and its readiness to proceed.