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1999 SESSION
SB 1188 Information Technology Employment Performance Grant Program.
Introduced by: William C. Wampler, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Information Technology Employment Performance Grant Program. Provides a grant to any electronics equipment or computer and data processing services firm that after July 1, 1999, creates at least 50 permanent full-time positions within (i) the planning district with the highest rate of unemployment or (ii) an adjacent planning district. If such a firm employs the workers for 36 consecutive months, it becomes entitled to a grant of $1,000 per employee per year, not to exceed $150,000. A firm is eligible for one grant. Grants are payable from a special fund, comprised of appropriated funds and any other sums made available to it from any public or private source and all interest and income from fund investments. If sufficient funds are not available in the fund in any year to pay all claims, they will be paid on a pro rata basis and the shortfall will be carried over to succeeding years.
SUMMARY AS INTRODUCED:
Information Technology Employment Performance Grant Program. Provides a grant to any electronics equipment or computer and data processing services firm that after July 1, 1999, creates at least 50 permanent full-time positions within (i) the planning district with the highest rate of unemployment or (ii) an adjacent planning district. If such a firm employs the workers for 36 consecutive months, it becomes entitled to a grant of $1,000 per employee per year, not to exceed $150,000. A firm is eligible for one grant. Grants are payable from a special fund, comprised of appropriated funds. If sufficient funds are not available in the fund in any year to pay all claims, they will be paid on a pro rata basis and the shortfall will be carried over to succeeding years.