2015 Session

Budget Amendments - HB1400 (Committee Approved)

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Employment Grants for Veterans

Item 461 #1h

Item 461 #1h

First Year - FY2015 Second Year - FY2016
Veterans Affairs and Homeland Security
Veterans Services, Department of FY2015 $0 FY2016 $1,000,000 GF

Page 423, line 42, strike "$11,297,591" and insert "$12,297,591".
Page 424, after line 43, insert:
"H. 1. Out of this appropriation, up to $1,000,000 the second year from the general fund shall be provided to address the costs associated with support of a grant program to create employment opportunities for veterans by assisting employers in hiring and retaining them.  The Department of Veteran's Services shall develop program guidelines to ensure that the funding mechanism effectively attracts maximum participation of firms to increase the number of veterans hired.  
2.  Such funds shall be used to provide grants beginning July 1, 2015, to any business with 250 or fewer employees who has hired a veteran after July 1, 2014; if such veteran was hired within one year of the date of his discharge from active military, naval, or air service; has been continuously employed by the business in a full-time job for at least one year; and has been paid at least the prevailing average wage of the jurisdiction in which the job is located.  The grant shall equal $500 per qualifying business for each veteran that has been hired, up to a maximum grant of $10,000 per business in the fiscal year.
3.  Grants shall be issued in the order that each completed eligible application is received. In the event that the amount of eligible grants requested in a fiscal year exceeds the funds available in the Fund, such grants shall be paid in the next fiscal year in which funds are available.
4.  The Department shall report no later than October 1 of each fiscal year after the program is implemented on the demand for the program, and any shortage of funding resulting from requests in excess of the available appropriation."

(This amendment provides funding to establish a new grant program to incentivize businesses to hire Virginia's veterans. The program would go into effect January 1, 2016, and would provide grants of up to $500 per qualifying business for each veteran it hires, up to a maximum annual grant to $10,000 per business per fiscal year.)