Rich Pahls Did Not Vote on this Legislation.
Title: Establishes Small Business Stabilization Grant Program Act
Signed by Governor Pete Ricketts
Title: Establishes Small Business Stabilization Grant Program Act
Vote to amend and pass a bill that establishes the Small Business Stabilization Grant Program Act.
Establishes the Small Business Stabilization Grant (Sec. 4).
Specifies that only small business experiencing a significant loss of revenue of 50% are eligible (Sec. 2).
Defines “significant loss” as no more than $1 million of gross revenue (Sec. 2).
Defines “qualifying event” as any natural disaster, pandemic, or when state emergency proclamation was declared (Sec. 2).
Specifies that the Department of Economic Development shall receive applications on a first-come/first-serve basis (Sec. 4).
Prohibits a grant from being over $12,000 (Sec. 4).
Establishes that non-state funds can equalize grant money up to 25% for those residing in a redevelopment area (Sec. 8).
Establishes that non-state funds can equalize grant money up to 50% for non-redevelopment areas (Sec. 8).
Title: Establishes Small Business Stabilization Grant Program Act