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2007 SESSION

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SB 1281 Economic Development Incentive Grants; reduces waiting period for payments.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Economic Development Partnership; Virginia Economic Development Incentive Grants.  Reduces the waiting period for payments under the Virginia Economic Development Incentive Grant subfund from four to three years. The bill also (i) raises the aggregate amount of grants payable in any fiscal year from $3 million to $6 million, (ii) raises the aggregate amounts outstanding at any time from $15 million to $30 million, and (iii) removes the limit on incentive grants that may be awarded in any single biennium.


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