SB 458 Virginia Senate · 2020 Regular Session

Microloans for Veterans Program and Fund; created.

Summary

Microloans for Veterans Program and Fund; creationand administration. Creates the Microloans for Veterans Programand Fund to be administered by the Virginia Small Business FinancingAuthority (the Authority). The bill directs the Authority to work with the Department of Veterans Services, the Department of SmallBusiness and Supplier Diversity, and the Virginia Community CollegeSystem to develop a curriculum of education and mentorship relatedto finance and business planning. The Authority is authorized toissue loans of up to $10,000 to veterans who agree to participatein such curriculum and meet other requirements (tier 1 loans). TheAuthority is authorized to issue loans of up to $50,000 to veteranswho have completed the requirements associated with a tier 1 loanand agree to meet advanced education and mentorship requirements(tier 2 loans).

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2020

Committee Review

Feb 2020

Senate Passage

Feb 2020

House of Delegates Passage

Governor

Introduced Jan 7, 2020 Last action Mar 3, 2020

Floor votes

How they voted

This bill passed the Senate. No roll call record of that vote is available.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 20, 2020

Committee

Referred to Committee on Appropriations

lower

Feb 20, 2020

Lower · Passed

Reported from General Laws with amendments (20-Y 1-N)

lower

Feb 18, 2020

Lower · Passed

Subcommittee recommends referring to Committee on Appropriations

lower

Feb 18, 2020

Lower · Passed

Subcommittee recommends reporting with amendments (8-Y 0-N)

lower

Feb 18, 2020

Lower · Passed

House subcommittee amendments and substitutes offered

lower

Feb 14, 2020

Committee

Assigned GL sub: Open Government/Procurement

lower

Feb 13, 2020

Committee

Referred to Committee on General Laws

lower

Feb 3, 2020

Upper · Passed

Read third time and passed Senate (40-Y 0-N)

upper

Jan 31, 2020

Upper · Passed

Engrossed by Senate - committee substitute SB458S1

upper

Jan 31, 2020

Upper · Passed

Committee substitute agreed to 20106335D-S1

upper

Jan 29, 2020

Upper · Passed

Reported from Finance and Appropriations with substitute (16-Y 0-N)

upper

Jan 8, 2020

Upper · Passed

Moved from Finance to Finance and Appropriations due to a change of the committee name

upper

Jan 7, 2020

Committee

Referred to Committee on Finance and Appropriations

upper

Jan 7, 2020

Introduced

Prefiled and ordered printed; offered 01/08/20 20102175D

upper

1 primary · 2 co-sponsors