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2016 SESSION

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SB 750 Commonwealth's Development Opportunity Fund; political contributions, report.

Introduced by: Thomas K. Norment, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Commonwealth's Development Opportunity Fund; political contributions; reporting. Requires the Virginia Economic Development Partnership to provide to the Governor, his campaign committee, and his political action committee a quarterly report listing all businesses that received awards from the Commonwealth's Development Opportunity Fund (the Fund) in the previous quarter. The bill also requires the Governor, his campaign committee, and his political action committee receiving the reports to submit, within 18 months of the date of each award from the Fund, a report to the Virginia Conflict of Interest and Ethics Advisory Council listing any contributions greater than $100 that were received from such businesses between the time the application was made to the Fund through the one-year period after the business received a grant or loan from the Fund. The reporting requirements of the bill replace a provision prohibiting any person or entity submitting an application for an award from the Fund from making a contribution to the Governor or to the Governor's campaign committee or political action committee during the time the application is pending and in the one-year period following the award from the Fund.


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