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2011 SESSION

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HB 1870 VEDPA; reports by businesses receiving development subsidies.

Introduced by: David J. Toscano | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Economic Development Partnership Authority; reports by businesses receiving development subsidies.  Requires any business entity that receives a development subsidy to file an annual report with the granting agency or the Authority no later than 60 days before the end of the fiscal year during which the development subsidy was received. The bill sets out the requirements for the annual report. The bill defines development subsidy as any expenditure of public funds with a value of at least $25,000 expended for the purposes of stimulating economic development and job creation in the Commonwealth, and including bonds, grants, loan guarantees, fee waivers, price subsidies, tax abatement, tax exemptions, or tax credits.


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