Enterprise zone economic incentive grants; eligibility therefor. (SB1165)

Introduced By

Sen. John Watkins (R-Midlothian)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Enterprise zone economic incentive grants. Increases from $50,000 to $100,000 the minimum amount of investment required to be made in the rehabilitation or expansion of a building in order to be eligible for an enterprise zone incentive grant, and increases from $250,000 to $500,000 the minimum amount of investment required to be made for new construction in order to be eligible for an enterprise zone incentive grant. The bill would provide that any investor making $5 million or less in qualified real property investment in a building would be allowed a maximum of $100,000 in enterprise zone incentive grants within any five-year period for such building (the current maximum is $125,000). The bill would provide that any investor making more than $5 million in qualified real property investment in a building would be allowed a maximum of $200,000 in enterprise zone incentive grants within any five-year period for such building (the current maximum is $250,000). The bill also makes technical changes. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/13/2009Prefiled and ordered printed; offered 01/14/09 094460812
01/13/2009Referred to Committee on Commerce and Labor
01/19/2009Rereferred from Commerce and Labor (9-Y 0-N) (see vote tally)
01/19/2009Rereferred to Finance
01/20/2009Impact statement from DPB (SB1165)
02/04/2009Reported from Finance with amendments (16-Y 0-N) (see vote tally)
02/05/2009Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/06/2009Read second time
02/06/2009Reading of amendments waived
02/06/2009Committee amendments agreed to
02/06/2009Engrossed by Senate as amended SB1165E
02/06/2009Printed as engrossed 094460812-E
02/09/2009Read third time and passed Senate (40-Y 0-N) (see vote tally)
02/13/2009Placed on Calendar
02/13/2009Read first time
02/13/2009Referred to Committee on Appropriations
02/16/2009Assigned App. sub: Economic Development, Agriculture and Natural Resources(Cox)
02/17/2009Impact statement from DPB (SB1165E)
02/19/2009Subcommittee recommends reporting
02/23/2009Reported from Appropriations (24-Y 0-N) (see vote tally)
02/24/2009Read second time
02/25/2009Read third time
02/25/2009Passed House BLOCK VOTE (100-Y 0-N)
02/25/2009VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally)
03/04/2009Enrolled
03/04/2009Bill text as passed Senate and House (SB1165ER)
03/05/2009Signed by President
03/06/2009Signed by Speaker
03/12/2009Impact statement from DPB (SB1165ER)
03/27/2009G Approved by Governor-Chapter 271 (effective 7/1/09)
03/27/2009G Acts of Assembly Chapter text (CHAP0271)

Duplicate Bills

The following bills are identical to this one: HB2332.