Florida Senate - 2015 PROPOSED COMMITTEE SUBSTITUTE
Bill No. CS for SB 292
Ì428378TÎ428378
576-01916-15
Proposed Committee Substitute by the Committee on Appropriations
(Appropriations Subcommittee on Transportation, Tourism, and
Economic Development)
1 A bill to be entitled
2 An act relating to small business financial
3 assistance; creating s. 295.24, F.S.; creating the
4 Veterans Employment Small Business Grant Program
5 within the Department of Veterans’ Affairs; directing
6 Florida Is For Veterans, Inc., to administer the
7 program; defining terms; authorizing the corporation
8 to accept and administer moneys appropriated for such
9 grants; specifying grant amounts; limiting the amount
10 that a small business may receive under the program;
11 requiring a small business to apply to and enter into
12 an agreement with the corporation to receive grants;
13 providing requirements for participation in the
14 program; providing that a small business may not
15 receive an additional award for rehiring a veteran
16 previously claimed as an employee for purposes of
17 obtaining funds under the program; providing that the
18 award applies only to veterans hired after a specified
19 date; requiring the corporation to notify the
20 appropriate regional small business center of a small
21 business’s participation; providing for termination of
22 the program; authorizing the department to adopt
23 rules; providing an appropriation; providing effective
24 dates.
25
26 Be It Enacted by the Legislature of the State of Florida:
27
28 Section 1. Section 295.24, Florida Statutes, is created to
29 read:
30 295.24 Veterans Employment Small Business Grant Program.
31 The Veterans Employment Small Business Grant Program is created
32 within the Department of Veterans’ Affairs to be administered by
33 Florida Is For Veterans, Inc. The purpose of the program is to
34 stimulate investment in the state’s economy by providing grants
35 to small businesses that hire and employ honorably discharged
36 veterans or disabled veterans with a service-connected
37 disability.
38 (1) As used in this section, the term:
39 (a) “Corporation” means Florida Is For Veterans, Inc.
40 (b) “Small business” means an independently owned and
41 operated, for-profit, and privately held business that employs
42 200 or fewer persons; generates $2 million or less in annual
43 revenue; and has maintained its principal place of business in
44 this state for at least the previous 4 calendar years.
45 (2) The corporation may accept and administer moneys
46 appropriated to the department, for transfer to the corporation,
47 for providing grants to encourage small businesses in this state
48 to hire and employ veterans.
49 (3) A small business that hires a veteran as an employee
50 may receive a one-time grant of:
51 (a) Three thousand dollars for each veteran, as defined in
52 s. 1.01(14).
53 (b) Five thousand dollars for each disabled veteran, as
54 described in s. 295.07(1)(a)1.
55 (4) The grants awarded to a given small business under
56 subsection (3) may not exceed $25,000 per fiscal year.
57 (5) A small business must apply to and enter into an
58 agreement with the corporation in order to participate in the
59 program. The agreement must require that the small business:
60 (a) Employ a qualifying veteran for at least 1 year in
61 order to become eligible for grants awarded under subsection
62 (3).
63 (b) Upon the request of the corporation, report information
64 regarding the employment status of each qualifying veteran.
65 (c) Pay each qualifying veteran an amount equal to at least
66 80 percent of the annual median income for veterans in this
67 state based on the most recent federal census or the most recent
68 American Community Survey 5-year estimates published by the
69 United States Census Bureau.
70 (d) Reinvest any awarded grant moneys in the small business
71 to facilitate further job creation. Reinvestment under this
72 subsection is limited to manufacturing, equipment, and
73 facilities expenditures, or other operating or fixed capital
74 outlay projects.
75 (e) Not receive an additional award for rehiring a veteran
76 previously claimed as an employee by the same small business for
77 purposes of obtaining funds under the program.
78 (f) Is eligible to receive a grant award only for a veteran
79 initially hired on or after October 1, 2015.
80 (6) The corporation shall notify the regional small
81 business center serving the county in which a participating
82 small business is located of a small business’s participation in
83 the grant program in order to facilitate improved access to the
84 resources of the Florida Small Business Development Center
85 Network.
86 (7) The grant program terminates on the date that all funds
87 appropriated for the program are expended or on October 1, 2025,
88 whichever occurs first.
89 (8) The Department of Veterans’ Affairs may adopt rules to
90 implement and administer this section, including, but not
91 limited to, rules specifying requirements for the application
92 and approval process and the documentation necessary to claim
93 grant moneys awarded under this section.
94 Section 2. Effective July 1, 2015, for the 2015-2016 fiscal
95 year, the sum of $10 million in nonrecurring funds from the
96 General Revenue Fund is appropriated to the Department of
97 Veterans’ Affairs for transfer to Florida Is For Veterans, Inc.,
98 to implement and administer the Veterans Employment Small
99 Business Grant Program. The corporation may award grant moneys
100 up to a maximum of $900,000 per fiscal year. The corporation may
101 spend up to $100,000 per fiscal year of funds transferred by the
102 department for staffing and administrative costs associated with
103 implementation and administration of the program. If any
104 appropriated funds remain upon termination of the program,
105 Florida Is For Veterans, Inc., shall transfer such funds to the
106 Department of Veterans’ Affairs to revert to the General Revenue
107 Fund.
108 Section 3. Except as otherwise expressly provided in this
109 act and except for this section, which shall take effect July 1,
110 2015, this act shall take effect October 1, 2015.