Enterprise Zone Grant Program; lowers threshold for qualified real property investments. (HB658)

Introduced By

Del. Ward Armstrong (D-Martinsville)

Description

Enterprise Zone Grant Program; threshold for real property investment grants.  Lowers the threshold for qualified real property investments under the Enterprise Zone Grant Program for distressed localities from $100,000 to $50,000 for the rehabilitation or expansion of a single building and from $500,000 to $250,000 for new construction of a single building. Under the bill, distressed locality is defined as any locality with an annual average unemployment rate that is one and one half times or more the state average unemployment rate.   View Full Text »

Outcome

No Richmond Sunlight visitors voted on this bill while voting was open.