Commonwealth's Development Opportunity Fund; criteria for awarding grants and loans. (HB1358)

Introduced By

Del. Lashrecse D. Aird (D-Petersburg)

Description

Commonwealth's Development Opportunity Fund; criteria for awarding grants and loans. Changes the criteria for awarding funds from the Commonwealth's Development Opportunity Fund (the Fund) to include a fiscally stressed locality with an above average or high score as evidenced by the Commission on Local Government Fiscal Stress Index. The bill awards no less than one-third of the moneys appropriated to the Fund in every five-year period to counties and cities that apply for funding and are experiencing above average or high fiscal stress as evidenced by the Commission on Local Government Fiscal Stress Index. Currently, the law awards one-third of the moneys appropriated to the Fund in every five-year period based on unemployment rates of cities and counties. Read the Bill »

Outcome

History