Governor's Development Opportunity Fund; criteria for grants or loans from Fund. (SB1050)

Introduced By

Sen. George Barker (D-Alexandria)

Progress

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

Description

Governor's Development Opportunity fund; criteria for awarding grants or loans.  Expands the options that a grant or loan may be awarded from the Governor's Development Opportunity Fund by including proposed project that involve (i) a minimum private investment of $50 million creating 50 jobs for which the average wage, excluding fringe benefits, is no less than the prevailing average wage, or (ii) a minimum private investment of $100 million creating 25 jobs for which the average wage, excluding fringe benefits, is no less than the prevailing average wage. The bill also provides that if a project represents an emerging technology deemed to be of benefit to the Commonwealth and creates a minimum of 25 jobs for which the average wage, excluding fringe benefits, is no less than one and one half times the prevailing average wage of the local community, a grant or loan may be awarded from the Fund. Read the Bill »

Status

01/27/2011: Merged into SB1379

History

DateAction
01/11/2011Prefiled and ordered printed; offered 01/12/11 11103844D
01/11/2011Referred to Committee on General Laws and Technology
01/19/2011Impact statement from DPB (SB1050)
01/19/2011Rereferred from General Laws and Technology (14-Y 0-N) (see vote tally)
01/19/2011Rereferred to Finance
01/27/2011Incorporated by Finance (SB1379-Stanley) (13-Y 0-N) (see vote tally)

Duplicate Bills

The following bills are identical to this one: HB2240 and HB2234.