Governor's Development Opportunity Fund; criteria for awarding grants or loans from the Fund. (HB2240)

Introduced By

Del. Luke Torian (D-Woodbridge)

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

Status

02/03/2011: Merged into HB1982

History

DateAction
01/12/2011Committee
01/12/2011Prefiled and ordered printed; offered 01/12/11 11103845D
01/12/2011Referred to Committee on General Laws
01/25/2011Impact statement from DPB (HB2240)
01/31/2011Assigned GL sub: #4 Professions/Occupations and Administrative Process
02/01/2011Subcommittee recommends incorporating (HB1982-Kilgore)
02/03/2011Incorporated by General Laws (HB1982-Kilgore)

Duplicate Bills

The following bills are identical to this one: SB1050 and HB2234.