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1999 SESSION
SB 1247 Governor's Development Opportunity Fund.
Introduced by: J. Randy Forbes | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Governor’s Opportunity Development Fund. Provides that the Governor may reduce the number of new jobs required to no less than half of the amount that would have normally been required to receive a fund grant or loan when the average wage of new jobs created is at least twice the prevailing wage (not including benefits) for the locality or region. The bill also eliminates the prohibition on a locality receiving funding for more than one project in a fiscal year. This bill is identical to HB 2381.
SUMMARY AS INTRODUCED:
Governor’s Economic Development Fund. Provides that the Governor shall have discretion to reduce the number of new jobs required to no less than half of the amount that would have normally been required to receive a fund grant or loan when the average wage of new jobs created is at least twice the prevailing wage (not including benefits) for the locality or region. The bill also eliminates the prohibition on a locality receiving funding for more than one project in a fiscal year.