SPONSOR: Young
This bill establishes the "Missouri Small Business Property Crime Prevention Grant Program" to award grants to small businesses, as defined in the bill, to improve their safety and security and to assist small businesses with costs related to repairing damage caused during the commission of property crimes. This program is subject to appropriation, and is administered by the Missouri Department of Economic Development. The total amount of grants that may be awarded to a single small business in a fiscal year cannot exceed $1,000.
The bill includes time lines for submission of an application to the Department, requirements for eligibility, and certain restrictions for use of the grant moneys awarded.
The Department is authorized to establish a review committee to evaluate the grant applications based upon criteria included in the bill. Thereafter, the Department is required to award the grants and notify the small businesses of their award status within 30 days after the date on which the grant applications were due.
Small businesses that receive a grant under the program, must submit an annual report to the Department stating the progress made in implementing the funded repairs or security measures and challenges faced in executing the repairs or security improvements. Small businesses must complete the repairs or security upgrades within 18 months of receiving the grant or the Department may revoke the remaining funds allocated for failure to meet the deadline.
The bill creates the "Missouri Small Business Property Crime Prevention Grant Program" in the State Treasurer' Office that includes the appropriated moneys, and moneys received from other sources provided in the bill.
This program sunsets six years after the effective date.
Statutes affected: