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2012 SESSION

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HB 767 Small Business Jobs Grant Fund Program; developed to assist small businesses job creation.

Introduced by: R. Steven Landes | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Virginia Department of Business Assistance; Small Business Jobs Grant Fund.  Clarifies that the Small Business Jobs Grant Fund Program is a component of the Virginia Jobs Investment Program. The bill also (i) authorizes the Secretary of Commerce and Trade to waive eligibility requirements, (ii) changes from 12 to 24 months the time period within which the five new positions must be created in order to qualify for a grant, (iii) requires a small business to be organized under Virginia law or maintain a principal place of business in Virginia, (iv) prohibits receiving more than one grant for the same position, and (v) requires the employee to be employed in the new full-time position for at least 90 days prior to the award of the grant.


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