HB 2784-S.E - DIGEST

(DIGEST AS ENACTED)

Declares it is the policy of the state of Washington to assist in the creation and expansion of innovative small commercial enterprises that produce marketable goods and services through the employment of residents, the use of technology, and the application of best management practices. This policy is to be implemented through the use of small business incubators.

Creates the small business incubator program in the department of community, trade, and economic development to provide start-up and operating assistance to qualified small business incubators.

Directs the department to award grants to qualified small business incubator organizations for: (1) Construction and equipment costs, up to a maximum of three million dollars per recipient; and

(2) Provision of technical assistance to small businesses, up to a maximum of one hundred twenty-five thousand dollars per year per recipient.

Declares that the department of community, trade, and economic development shall have no duty to provide services related to the small business incubator and entrepreneurship assistance act of 2004 unless and until the small business incubator program and related administrative expenses are funded by the legislature.