A bill authored by a local state lawmaker heads to the governor for approval.
State Rep. Shane Lindauer’s House Bill 1004 looks to support jobs and economic recovery by investing $60 million to expand the Hoosier Hospitality Small Business Restart Grant Program. Lindauer hopes to turn this legislation into law.
Lindauer says many businesses across the state have been negatively impacted by the COIVD-19 pandemic, especially those in the tourism and hospitality industry.
Lindauer looks to provide eligible small businesses a grant to cover a portion of the business and payroll-related expenses.
If passed into law, eligible recipients would include those whose revenue is $10 million a year or less, fewer than 100 employees as of December 1, 2019, and they must show an average monthly gross revenue loss of at least 30%. Grants couldn’t be more than $50,000 to any individual business.
Lindauer says this grant program would be an extension of the already existing Small Business Restart Program and would continue to be administered by the Indiana Economic Development Corp.