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2011 SESSION
HB 2240 Governor's Development Opportunity Fund; criteria for awarding grants or loans from the Fund.
Introduced by: Luke E. Torian | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Governor's Development Opportunity fund; criteria for awarding grants or loans. Expands the options that a grant or loan may be awarded from the Governor's Development Opportunity Fund by including proposed project that involve (i) a minimum private investment of $50 million creating 50 jobs for which the average wage, excluding fringe benefits, is no less than the prevailing average wage, or (ii) a minimum private investment of $100 million creating 25 jobs for which the average wage, excluding fringe benefits, is no less than the prevailing average wage. The bill also provides that if a project represents an emerging technology deemed to be of benefit to the Commonwealth and creates a minimum of 25 jobs for which the average wage, excluding fringe benefits, is no less than one and one half times the prevailing average wage of the local community, a grant or loan may be awarded from the Fund.
FULL TEXT
HISTORY
- 01/12/11 House: Prefiled and ordered printed; offered 01/12/11 11103845D
- 01/12/11 House: Referred to Committee on General Laws
- 01/31/11 House: Assigned GL sub: #4 Professions/Occupations and Administrative Process
- 02/01/11 House: Subcommittee recommends incorporating (HB1982-Kilgore) by voice vote
- 02/03/11 House: Incorporated by General Laws (HB1982-Kilgore) by voice vote