Establishes a statewide microbusiness support program in West Virginia, including a fund, grants, and streamlined processes.
The West Virginia Microbusiness Support & Simplification Act creates a statewide program to support microbusinesses, defined as businesses with no more than nine employees. It establishes the West Virginia Microbusiness Support Program and a special revenue fund for grants, micro-grants, and loans to microbusinesses. The act also mandates prompt payment for certified microbusiness vendors, sets up optional micro-purchase set-asides, and requires small-entity compliance guides.
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