HB2171: Virginia Small Business Financing Authority; utilization or award of loan and grant program funds.
Be it enacted by the General Assembly of Virginia:
1. That § 2.2-2312 of the Code of Virginia is amended and reenacted as follows:
§ 2.2-2312. Annual report; audit.
The Authority shall, within 120 days of the close of each
fiscal year, submit an annual report of its activities for the preceding fiscal
year to the Governor and the chairmen Chairmen of the House
Committee on Appropriations and the Senate Committee on Finance and
Appropriations. Each report shall set forth, for the preceding fiscal year,
a complete operating and financial statement for the Authority and any loan
fund or loan guarantee fund the Authority administers or manages. The report
shall also include information regarding the percentage of loan and grant
program funds that were utilized or awarded by the Authority during such year.
The Auditor of Public Accounts or his legally authorized representatives shall
audit the books and accounts of the Authority and any loan fund or loan
guarantee fund the Authority administers or manages as determined necessary by
the Auditor of Public Accounts.
HOUSE BILL NO. 2171
Be it enacted by the General Assembly of Virginia:
1. That § 2.2-2312 of the Code of Virginia is amended and reenacted as follows:
§ 2.2-2312. Annual report; audit.
The Authority shall, within 120 days of the close of each
fiscal year, submit an annual report of its activities for the preceding fiscal
year to the Governor and the chairmen Chairmen of the House
Committee on Appropriations and the Senate Committee on Finance and Appropriations. Each
report shall set forth, for the preceding fiscal year, a complete operating and
financial statement for the Authority and any loan fund or loan guarantee fund
the Authority administers or manages. The
report shall also include information regarding the
percentage of loan and grant program funds that were utilized or awarded by
the Authority during such
year. The Auditor of Public Accounts or his legally
authorized representatives shall audit the books and accounts of the Authority
and any loan fund or loan guarantee fund the Authority administers or manages
as determined necessary by the Auditor of Public Accounts.