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