Bill Text: VA HB2171 | 2021 | 1st Special Session | Chaptered
Bill Title: Virginia Small Business Financing Authority; utilization or award of loan and grant program funds.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Passed) 2021-03-18 - Governor: Acts of Assembly Chapter text (CHAP0148) [HB2171 Detail]
Download: Virginia-2021-HB2171-Chaptered.html
Be it enacted by the General Assembly of Virginia:
1. That §2.2-2312 of the Code of Virginia is amended and reenacted as follows:
§2.2-2312. Annual report; audit.
The Authority shall, within 120 days of the close of each
fiscal year, submit an annual report of its activities for the preceding fiscal
year to the Governor and the chairmen Chairmen of the House
Committee on Appropriations and the Senate Committee on Finance and Appropriations.
Each report shall set forth, for the preceding fiscal year, a complete
operating and financial statement for the Authority and any loan fund or loan
guarantee fund the Authority administers or manages. The report shall also
include information regarding the percentage of loan and grant program funds
that were utilized or awarded by the Authority during such year. The
Auditor of Public Accounts or his legally authorized representatives shall
audit the books and accounts of the Authority and any loan fund or loan
guarantee fund the Authority administers or manages as determined necessary by
the Auditor of Public Accounts.