SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2017 SESSION
HB 1969 Small Business Jobs Grant Fund Program; reduces minimum percentage of revenues.
Introduced by: R. Steven Landes | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Small Business Jobs Grant Fund Program. Reduces from 50 percent to 35 percent the minimum percentage of revenues that a small business must derive from out-of-state sources in order to be eligible for grants from the Small Business Jobs Grant Fund Program. The bill reduces from $100,000 to $50,000 the minimum new capital investment that a company is required to make to be eligible for assistance under the Program. Finally, the bill changes the definition of small business for purposes of the Program from a company that has 250 or fewer employees to one that has 50 or fewer employees in its base year and average annual gross receipts of $3 million or less averaged over the previous 24-month period.
SUMMARY AS INTRODUCED:
Small Business Jobs Grant Fund Program. Reduces from 50 percent to 35 percent the minimum percentage of revenues that a small business must derive from out-of-state sources in order to be eligible for grants from the Small Business Jobs Grant Fund Program. The bill provides that to be eligible for assistance under the Program a company must make a new capital investment of at least $50,000. Finally, the bill changes the definition of small business for purposes of the Program from a company that has 250 or fewer employees to one that has 30 or fewer employees in its base year and average annual gross receipts of $3 million or less averaged over the previous 24-month period.