1998 Session

Budget Amendments - HB30 (Conference Report)

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VA Enterprise Initiative

Item 92 #8c

Item 92 #8c

First Year - FY1999 Second Year - FY2000
Commerce And Trade
Housing and Community Development, Department of FY1999 $0 FY2000 $700,000 GF

Page 62, line 25, strike "$46,087,753" and insert "$46,787,753".
Page 65, after line 8, insert:  
"J.  The Department shall report to the Chairmen of the Senate Finance and House Appropriations Committees by November 4, 1998, on the activities of the Virginia Enterprise Initiative in fiscal year 1998.  The report shall include, but not be limited to, program costs, the number and location of participating local organizations, the amount of nonstate money matched by state dollars, the number of loans made, the amount of interest and principal collected, the number of persons trained, the number of new businesses started, the number of businesses still in operation 12 months after receiving program assistance, and the number of new jobs created."

(This amendment provides $700,000 of general fund support for the Virginia Enterprise Initiative. This program, which is managed by the Department of Housing and Community Development, provides small-scale loans and business skills training to low-income Virginians. The budget, as introduced, proposed to eliminate the program's appropriation in fiscal year 2000. The amendment also requires a report on the activities of the Virginia Enterprise Initiative.)