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2011 SESSION
SB 1379 Governor's Development Opportunity Fund; criteria for grants or loans from Fund.
Introduced by: William M. Stanley, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Governor's Development Opportunity Fund; criteria for grants or loans from the fund. Reduces, among other things, the threshold for private investment and new job creation from $10 million and 100 new jobs to $5 million and at least 50 new jobs, and allows for awards from the Fund for projects with a minimum private investment of $100 million that create at least 25 new jobs. The bill also sets forth new investment and job creation thresholds for projects in fiscally stressed localities. This bill incorporates SB 1050 and is identical to HB 1982.
SUMMARY AS PASSED SENATE:
Governor's Development Opportunity Fund; criteria for grants or loans from the fund. Reduces, among other things, the threshold for private investment and new job creation from $10 million and 100 new jobs to $5 million and 50 new jobs, and allows for awards from the Fund for projects with a minimum private investment of $100 million that creates at least 25 new jobs. The bill also sets forth new investment and job creation thresholds for projects in fiscally stressed localities. This bill incorporates SB 1050.
SUMMARY AS INTRODUCED:
Governor's Development Opportunity Fund; criteria for grants or loans from the fund. Reduces, among other things, the threshold for private investment and new job creation from fiscally stressed localities from $10 million and 100 new jobs to $5 million and 50 new jobs.