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2021 SESSION

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SB 1418 Commonwealth's Development Opportunity Fund; grants, waiver or reduction of capital investment.

Introduced by: Jeremy S. McPike | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Grants from the Commonwealth's Development Opportunity Fund; waiver or reduction of capital investment and local match requirement. Provides that, for grants from the Commonwealth's Development Opportunity Fund, capital investment and local match requirements may be reduced or waived based on the creation of telework jobs that pay an average wage of at least 1.2 times the Virginia minimum wage.

SUMMARY AS INTRODUCED:

Implementation of federal mandates; grants by the Commonwealth; certification of employment; waiver or reduction of capital investment and local match requirements. Provides grant administering agencies and authorities the ability to waive or reduce capital investment or local match requirements based on the creation of telework jobs that pay an average wage of at least 1.2 times the Virginia minimum wage.