SB594 - Modifying appropriation requirements of certain economic development funds

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The purpose of this bill is to require that all appropriations that exceed $1 million to any single private business entity must be brought as a stand-alone bill to both the House of Delegates and the Senate, prohibiting either the House of Delegates or the Senate or both the House of Delegates and the Senate from authorizing a series of appropriations of less than $1 million that combine to exceed $1 million to a single private business entity, setting a limit of $10 million on the annual balance of the Economic Development Promotion and Closing Fund, setting a limit of $100 million on the annual budget of the Entrepreneurship and Innovation Investment Fund.