2020 Special Session I

Budget Amendments - HB5005 (Conference Report)

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Rebuild Virginia Grant Program (language only)

Item 128 #1c

Item 128 #1c

Commerce and Trade
Department of Small Business and Supplier Diversity


Page 32, line 3, strike "Not set out." and insert:

"C.1. Out of the amounts in this item, $819,753 the first year and $819,753 the second year from the general fund shall be deposited to the Small Business Investment Grant Fund pursuant to § 2.2-1616, Code of Virginia. The department shall aggressively market the program and shall report to the Governor and the Secretary of Commerce and Trade on the status of the program by November 1 of each year.

2. In administering the funds allocated in paragraphs B.1. and B.2. of Item 479.10 of this act for the Rebuild Virginia Grant program, the Department shall reexamine its program eligibility criteria and maximum grant award to ensure deployment of funds prior to the expiration of the Coronavirus Relief Funds awarded to the Commonwealth through the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136).  At a minimum, the Department shall expand the eligibility criteria to include small businesses: that have already received CARES Act funding from any federal, state, regional or local agency or authority, meet the small business definition of § 2.2-1604 of the Code  of Virginia, and are Virginia-based recreation and related tourism small businesses."


(This amendment provides guidance to the Department of Small Business and Supplier Diversity on the deployment of funds provided for the Rebuild Virginia program. Upon enrolling, Item 128 will be set out and enrolled appropriately.)