Microloans for Veterans Program and Fund; created. (SB458)

Introduced By

Sen. Bryce Reeves (R-Spotsylvania) with support from co-patrons Sen. Amanda Chase (R-Midlothian), and Sen. Todd E. Pillion (R-Abingdon)

Progress

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

Description

Microloans for Veterans Program and Fund; creation and administration. Creates the Microloans for Veterans Program and Fund to be administered by the Virginia Small Business Financing Authority (the Authority). The bill directs the Virginia Community College System, working with the Authority and other state agencies, to develop a curriculum to provide education and mentorship to veterans. The Authority is authorized to issue loans of up to $10,000 to veterans who agree to participate in such curriculum and meet other requirements (tier 1 loans). The Authority is authorized to issue loans of up to $50,000 to veterans who have completed the requirements associated with a tier 1 loan and agree to meet advanced education and mentorship requirements (tier 2 loans). The provisions of the bill are contingent on funding in a general appropriation act. Read the Bill »

Status

02/18/2020: Subcommittee Recommends Passing the Bill

History

DateAction
01/07/2020Referred to Committee on Finance
01/07/2020Prefiled and ordered printed; offered 01/08/20 20102175D
01/07/2020Referred to Committee on Finance and Appropriations
01/08/2020Moved from Finance to Finance and Appropriations due to a change of the committee name
01/29/2020Reported from Finance and Appropriations with substitute (16-Y 0-N) (see vote tally)
01/29/2020Committee substitute printed 20106335D-S1
01/30/2020Constitutional reading dispensed (37-Y 0-N) (see vote tally)
01/31/2020Read second time
01/31/2020Reading of substitute waived
01/31/2020Committee substitute agreed to 20106335D-S1
01/31/2020Engrossed by Senate - committee substitute SB458S1
02/03/2020Read third time and passed Senate (40-Y 0-N) (see vote tally)
02/07/2020Impact statement from DPB (SB458S1)
02/13/2020Placed on Calendar
02/13/2020Read first time
02/13/2020Referred to Committee on General Laws
02/14/2020Assigned GL sub: Open Government/Procurement
02/18/2020House subcommittee amendments and substitutes offered
02/18/2020Subcommittee recommends reporting with amendments (8-Y 0-N)
02/18/2020Subcommittee recommends referring to Committee on Appropriations

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