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2012 SESSION

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SB 620 Federal Government Contractor Grant Fund and Program; created & established for certain businesses.

Introduced by: J. Chapman Petersen | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Federal government contractor grant program.  Establishes a federal government contractor grant fund and program beginning January 1, 2013, for federal contractors with at least 250 full-time employees that subcontract with small or minority-owned, veteran-owned, or women-owned businesses to perform federal government contract work. The grant would equal five percent of the amount paid by the federal contractor under the subcontract to the small or minority-owned, veteran-owned, or women-owned business. The small or minority-owned, veteran-owned, or women-owned business would be required to perform all subcontract work in a Historically Underutilized Business Zone or a state enterprise zone. The federal government contractor grant program is contingent upon an appropriation of general funds effectuating the provisions of the bill.

The aggregate amount of grants would be capped at $10 million each fiscal year.


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