Enterprise Zone Grant Program; preference for allocating grant funds. (HB555)
Introduced By
Del. Danny Marshall (R-Danville) with support from co-patrons Del. Ward Armstrong (D-Martinsville), Del. Anne Crockett-Stark (R-Wytheville), Del. Todd Gilbert (R-Woodstock), Del. John O'Bannon (R-Richmond), and Del. Tommy Wright (R-Victoria)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Enterprise Zone Grant Program; preference for allocating grant funds. Changes the eligibility for enterprise zone job grants in areas with an unemployment rate that is one and one-half times or more than the state average to positions paying at least 150 percent of the federal minimum wage including health benefits. Currently positions paying less than 175 percent of the federal minimum wage are not eligible for the job grants. In addition, the bill provides that when the sum of grants for job creation and real property investment exceeds the total annual appropriation for payments, allocations shall be prioritized to fully fund the grants for job creation with any remaining funds to be allocated to the real property investment grants. Amends § 59.1-547 (“Enterprise zone job creation grants.”), § 59.1-549 (“Policies and procedures for allocation of enterprise zone incentive grants.”), of the Code of Virginia. View Full Text »
