2022 Session

Budget Amendments - HB29 (Member Request)

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Chief Patron: Wampler
Business Ready Sites Priority for Economically Distressed Communities (language only)

Item 130 #1h

Item 130 #1h

Commerce and Trade
Virginia Economic Development Partnership


Page 33, line 48, after "K." insert "1."

Page 33, after line 50, insert:

"2. From the funds appropriated in this paragraph, the authority shall prioritize, review, and award no less than 40% of the available grant funding awards to applying localities who the authority recognizes as being double distressed with a higher statewide average with a factor of 1.5 of both unemployment and poverty levels."


(This amendment ensures that a portion of any business ready site funding awarded will be targeted regions of the Commonwealth experiencing chronic economic distress, defined as 1.5 times that of the state unemployment and poverty rates.)