Small Business Investment Grant Fund; administration; qualifications. (SB319)

Introduced By

Sen. Louise Lucas (D-Portsmouth)

Progress

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

Description

Small Business Investment Grant Fund; administration; qualifications. Changes the administration of the Small Business Investment Grant Fund from the Department of Small Business and Supplier Diversity to the Virginia Small Business Financing Authority. The bill also changes the eligibility of businesses to receive a grant from the fund by (i) removing the requirement that a business be certified as a small business by the Department, (ii) limiting the total grant allocation from the Fund to $250,000 per eligible investor, and (iii) extending the period during which an eligible investor can make a qualified investment in a small business from January 1, 2015, to January 1, 2019. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2016Prefiled and ordered printed; offered 01/13/16 16100457D
01/08/2016Referred to Committee on General Laws and Technology
01/18/2016Impact statement from DPB (SB319)
01/18/2016Stricken at request of Patron in General Laws and Technology (15-Y 0-N) (see vote tally)

Duplicate Bills

The following bills are identical to this one: SB179.