CS for SB 104 Summary

• Creates the Veterans Employment Small Business Grant Program within the Department of Economic Opportunity, administered by Florida Is For Veterans, Inc.

• Provides one-time grants of $1,500 per newly hired veteran and $3,000 per newly hired disabled veteran, with a maximum of $10,500 per fiscal year per business.

• Eligibility limited to small businesses with 50 or fewer employees, $1 million or less in annual revenue, and at least 4 years in Florida; veterans must be hired after July 1, 2018 and employed for at least 1 year.

• Grant recipients must pay veterans at least 90 percent of the state's annual median veteran income and use funds only for manufacturing, equipment, facilities, operating costs, or capital projects.

• Appropriates $500,000 annually from the State Economic Enhancement and Development Trust Fund for fiscal years 2018-2023, with $25,000 per year available for program administration; program terminates October 1, 2024.