Governor's Development Opportunity Fund; provides exception for locality to obtain grant or loan. (HB1371)

Introduced By

Del. Lynwood Lewis (D-Accomac)

Description

Governor's Development Opportunity Fund.  Provides an exception from the minimum private investment and the number of jobs to be created in order for a locality to obtain a grant or loan from the Governor's Development Opportunity Fund. As provided in the bill, if a project is to be located by a small business in an enterprise zone, the minimum private investment shall be adjusted to $1 million and the minimum number of new jobs created shall be adjusted to 10 jobs for which the average wage, excluding fringe benefits, is no less than the prevailing average wage. The bill defines "small business."   View Full Text »

Status

02/12/2010: Merged into HB1244
View Bill's History

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