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2011 SESSION
SB 1050 Governor's Development Opportunity Fund; criteria for grants or loans from Fund.
Introduced by: George L. Barker | 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. This bill was incorporated into SB 1379.
FULL TEXT
HISTORY
- 01/11/11 Senate: Prefiled and ordered printed; offered 01/12/11 11103844D
- 01/11/11 Senate: Referred to Committee on General Laws and Technology
- 01/19/11 Senate: Rereferred from General Laws and Technology (14-Y 0-N)
- 01/19/11 Senate: Rereferred to Finance
- 01/27/11 Senate: Incorporated by Finance (SB1379-Stanley) (13-Y 0-N)