House approves loan program bill aimed at Cody Lab

By: AP
By: AP

Cheyenne, WY (AP) - The Wyoming House of Representatives has amended a bill to specify that the state treasurer must secure an adequate security interest in projects the state could support through a new large-project loan program.

The House on Wednesday voted 45-to-14 to approve the loan program bill that supporters say will allow the state to lend money to a pharmaceutical company that's considering expansion of its Cody lab.

Cody Republican Sen. Hank Coe is sponsoring the bill. He has said the program would allow the state to lend $24 million to Lannett Co. Inc., which is considering a nearly $100 million expansion of its Cody lab.

The Senate already has approved the bill. Coe says he will recommend that the Senate agree with the House amendment.

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