Governor's Development Opportunity Fund; adjusts eligibility for grants or loans. (HB2468)

Introduced By

Del. Danny Marshall (R-Danville) with support from 8 copatrons, whose average partisan position is:

Those copatrons are Del. Ward Armstrong (D-Martinsville), Del. Allen Dudley (R-Rocky Mount), Del. Joseph Johnson (D-Abingdon), Del. Terry Kilgore (R-Gate City), Sen. Charles Hawkins (R-Chatham), Sen. Robert Hurt (R-Chatham), Sen. Roscoe Reynolds (D-Martinsville), Sen. William Wampler (R-Bristol)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Governor's Development Opportunity Fund. Adjusts eligibility for grants or loans from the Governor's Development Opportunity Fund for projects that are in a city or county located in a Metropolitan or Micripolitan Service Area whose annual average unemployment rate for the most recent calendar year is one and a half times or more the state average. In such cases, the minimum amount of private investment is lowered from $10,000,000 to $7,500,000 and the number of new jobs that must be created from 100 to 75. For localities with a population between 50,000 and 100,000 the minimums are lowered from $5,000,000 in private investment to $3,500,000 and from 50 new jobs to 35. For localities with less than 50,000 in population, minimums are lowered from $2,500,000 in private investment to $1,500,000 and from 25 new jobs to 15. Read the Bill »


03/20/2007: signed by governor


01/09/2007Prefiled and ordered printed with emergency clause; offered 01/10/07 07155710" HB2468"
01/09/2007Prefiled and ordered printed with emergency clause; offered 01/10/07 071557103
01/09/2007Prefiled and ordered printed; offered 01/10/07 071557103
01/09/2007Referred to Committee on General Laws
01/12/2007Assigned GL sub: #4 Prof./Occup./Admin. (Cosgrove)
01/18/2007Impact statement from DPB (HB2468)
02/02/2007Committee substitute printed 071596392-H1
02/03/2007Read first time
02/05/2007Read second time
02/05/2007Committee substitute agreed to 071596392-H1
02/05/2007Engrossed by House - committee substitute HB2468H1
02/06/2007Read third time and passed House BLOCK VOTE (99-Y 0-N)
02/06/2007Communicated to Senate
02/07/2007Constitutional reading dispensed
02/07/2007Referred to Committee on General Laws and Technology
02/08/2007Impact statement from DPB (HB2468H1)
02/14/2007Reported from General Laws and Technology with substitute (14-Y 0-N) (see vote tally)
02/15/2007Committee substitute printed 072799392-S1
02/16/2007Constitutional reading dispensed (39-Y 0-N)
02/16/2007VOTE: (39-Y 0-N) (see vote tally)
02/19/2007Read third time
02/19/2007Reading of substitute waived
02/19/2007Committee substitute agreed to 072799392-S1
02/19/2007Engrossed by Senate - committee substitute HB2468S1
02/19/2007Passed Senate with substitute (40-Y 0-N)
02/19/2007VOTE: (40-Y 0-N) (see vote tally)
02/20/2007Placed on Calendar
02/21/2007Senate substitute agreed to by House (87-Y 9-N)
02/21/2007VOTE: ADOPTION (87-Y 9-N) (see vote tally)
03/07/2007Bill text as passed House and Senate (HB2468ER)
03/07/2007Signed by Speaker
03/08/2007Signed by President
03/14/2007Impact statement from DPB (HB2468ER)
03/20/2007G Approved by Governor-Chapter 654 (effective 7/1/07)
04/05/2007G Acts of Assembly Chapter text (CHAP0654)