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HB1969

Small Business Jobs Grant Fund Program; reduces minimum percentage of revenues.

Status:
Enacted

Chief Patron:
Steve Landes (R)

Session:
2017 Regular Session

Summary

As Passed House of Origin. Small Business Jobs Grant Fund Program.

Reduces from 50 percent to 35 percent the minimum percentage of revenues that a small business must derive from out-of-state sources in order to be eligible for grants from the Small Business Jobs Grant Fund Program. The bill reduces from $100,000 to $50,000 the minimum new capital investment that a company is required to make to be eligible for assistance under the Program. Finally, the bill changes the definition of small business for purposes of the Program from a company that has 250 or fewer employees to one that has 50 or fewer employees in its base year and average annual gross receipts of $3 million or less averaged over the previous 24-month period. (Less)

  • Bill History

  • 01/10/2017 - House: Prefiled and ordered printed; offered 01/11/17 17100307D
  • 01/10/2017 - House: Referred to Committee on General Laws
  • 01/16/2017 - House: Assigned GL sub: Subcommittee #4
  • 01/19/2017 - House: Subcommittee recommends reporting with amendment (7-Y 0-N)
  • 01/24/2017 - House: Reported from General Laws with amendment (22-Y 0-N)
  • 01/25/2017 - House: Impact statement from DPB (HB1969)
  • 01/26/2017 - House: Read first time
  • 01/27/2017 - House: Read second time
  • 01/27/2017 - House: Committee amendment agreed to
  • 01/27/2017 - House: Engrossed by House as amended HB1969E
  • 01/27/2017 - House: Printed as engrossed 17100307D-E
  • 01/30/2017 - House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
  • 01/30/2017 - House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
  • 01/31/2017 - House: Impact statement from DPB (HB1969E)
  • 01/31/2017 - Senate: Constitutional reading dispensed
  • 01/31/2017 - Senate: Referred to Committee on General Laws and Technology
  • 02/13/2017 - Senate: Reported from General Laws and Technology (15-Y 0-N)
  • 02/15/2017 - Senate: Constitutional reading dispensed (40-Y 0-N)
  • 02/16/2017 - Senate: Read third time
  • 02/16/2017 - Senate: Passed Senate (39-Y 0-N)
  • 02/16/2017 - Senate: Reconsideration of Senate passage agreed to by Senate (40-Y 0-N)
  • 02/16/2017 - Senate: Passed Senate (40-Y 0-N)
  • 02/20/2017 - House: Enrolled
  • 02/20/2017 - House: Bill text as passed House and Senate (HB1969ER)
  • 02/20/2017 - House: Impact statement from DPB (HB1969ER)
  • 02/20/2017 - House: Signed by Speaker
  • 02/21/2017 - Senate: Signed by President
  • 02/21/2017 - House: Enrolled Bill communicated to Governor on 2/21/17
  • 02/21/2017 - Governor: Governor's Action Deadline Midnight, March 27, 2017
  • 03/03/2017 - Governor: Approved by Governor-Chapter 264 (effective 7/1/17)
  • 03/03/2017 - Governor: Acts of Assembly Chapter text (CHAP0264)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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