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 · Senate Feb 3, 2020

How they voted

40–0

Passed

Total votes 40

Feb 3, 2020

D Democratic21

21 Yea

100% Yea

R Republican19

19 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 20, 2020

House of Delegates · Referred to committee

Referred to Committee on Appropriations

Feb 20, 2020

House of Delegates · Reported by committee

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

Feb 18, 2020

House of Delegates · Reported by committee

Subcommittee recommends referring to Committee on Appropriations

Feb 18, 2020

House of Delegates · Reported by committee

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

Feb 18, 2020

House of Delegates · Reported by committee

House subcommittee amendments and substitutes offered

Feb 14, 2020

House of Delegates · Referred to committee

Assigned GL sub: Open Government/Procurement

Feb 13, 2020

House of Delegates · Referred to committee

Referred to Committee on General Laws

Feb 3, 2020

Senate · Passed

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

Jan 31, 2020

Senate · Reported by committee

Engrossed by Senate - committee substitute SB458S1

Jan 31, 2020

Senate · Reported by committee

Committee substitute agreed to 20106335D-S1

Jan 29, 2020

Senate · Reported by committee

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

Jan 8, 2020

Senate · Reported by committee

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

Jan 7, 2020

Senate · Referred to committee

Referred to Committee on Finance and Appropriations

Jan 7, 2020

Senate · Introduced

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

1 primary · 2 co-sponsors