Bill > SB119

This bill makes several key changes to the NV Grow Program, a state economic development initiative designed to support small businesses in Nevada. The bill renames the managing division to the Division of Small Business and Entrepreneurship Development and requires the division to prepare and publish an annual report detailing the assistance provided to participating businesses and tracking their business decisions and growth. The bill also modifies the program's eligibility requirements, lowering the minimum annual revenue threshold for businesses from $50,000 to $35,000 while maintaining the maximum revenue limit of $700,000. Additionally, the bill appropriates $1,200,000 to the College of Southern Nevada to support the program, with specific allocations including $100,000 to the University of Nevada Cooperative Extension in Clark County for counseling and training services, and $30,000 to various chambers of commerce for marketing support. The appropriated funds have a spending deadline of June 30, 2027, and the College of Southern Nevada is required to submit detailed reports on expenditures to the Interim Finance Committee. The bill aims to stimulate Nevada's economy by providing targeted assistance to existing small businesses looking to expand, with a focus on using local resources and expertise to support business growth.

Budget and Finance, Business and Industry

https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12032/Overview