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

Introduced By

Sen. Lynwood Lewis (D-Accomac)

Progress

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

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." Amends § 2.2-115, of the Code of Virginia. Read the Bill »

Status

02/12/2010: Merged into HB1244

History

DateAction
01/22/2010Committee
01/22/2010Presented and ordered printed 10104282D
01/22/2010Referred to Committee on Appropriations
01/27/2010Assigned App. sub: Economic Development, Agriculture and Natural Resources
02/04/2010Subcommittee recommends no action
02/05/2010Impact statement from DPB (HB1371)
02/11/2010Subcommittee recommends incorporating (HB1244-Marshall, D.W.)
02/12/2010Incorporated by Appropriations (HB1244-Marshall, D.W.)