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2001 SESSION

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HJ 801 Study; capital access for small & minority businesses.

Introduced by: Jerrauld C. Jones | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Capital access. Establishes a joint subcommittee to study capital access and business financing for small and minority-owned businesses. The study shall include an examination of the following: (i) various new initiatives and existing state and federal programs that increase the accessibility of private financing for business development and attract investment and working capital, including seed, operating, and expansion capital, to the Commonwealth in order to support economic development efforts; (ii) programs pursued in other states targeted at increasing the availability of private capital; and (iii) the appropriate role of the state in facilitating business financing.

SUMMARY AS PASSED HOUSE:

Study; capital access. Establishes a joint subcommittee, consisting of ten members of the General Assembly and eight citizen members, to study capital access and business financing for small and minority-owned businesses. The study shall include an examination of the following: (i) various new initiatives and existing state and federal programs that increase the accessibility of private financing for business development and attract investment and working capital, including seed, operating, and expansion capital, to the Commonwealth in order to support economic development efforts; (ii) programs pursued in other states targeted at increasing the availability of private capital; and (iii) the appropriate role of the state in facilitating business financing. The joint subcommittee must report its findings and recommendations by November 30, 2001, to the Governor and the 2002 Session of the General Assembly. This resolution was incorporated into HJR 773 (Callahan).

SUMMARY AS INTRODUCED:

Study; capital access. Establishes a joint subcommittee, consisting of ten members of the General Assembly and eight citizen members, to study capital access and business financing for small and minority-owned businesses. The study shall include examination of the following: (i) various new initiatives and existing state and federal programs that increase the accessibility of private financing for business development and attract investment and working capital, including seed, operating, and expansion capital, to the Commonwealth in order to support economic development efforts; (ii) programs pursued in other states targeted at increasing the availability of private capital; and (iii) the appropriate role of the state in facilitating business financing.