SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2014 SESSION

  • | print version

HB 864 Virginia Small Business Financing Authority; definition of eligible business & business enterprise.

Introduced by: David E. Yancey | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Small Business Financing Authority; definition of eligible business and business enterprise. Expands the definition of an eligible business under the Virginia Small Business Financing Authority to include any for-profit enterprise that exists for the primary purpose of developing or operating a qualified energy project or is required by state or federal law to develop or operate a qualified pollution control project. The definition of a business enterprise is expanded to include any entity acquiring, constructing, improving, maintaining, or operating a qualified energy project or a qualified pollution control project. A qualified energy project is a solar-powered or wind-powered electricity generation facility located in the Commonwealth on premises owned or leased by an eligible customer-generator if the electricity generated from it is sold exclusively to the eligible customer-generator under a power purchase agreement used to provide third party financing of the costs of such a renewable generation facility (third party power purchase agreement) pursuant to a pilot program established under Chapter 382 of the Acts of Assembly of 2013. A qualified pollution control project means environmental pollution control and prevention equipment certified by the business enterprise or eligible business as being needed to comply with the federal Clean Air Act, Clean Water Act, or Resource Conservation and Recovery Act.


FULL TEXT

HISTORY