Page 136

_ 136 Item Details($) Appropriations($) ITEM 111. First Year Second Year First Year Second Year FY2025 FY2026 FY2025 FY2026 sum sufficient to the Insurance or Guarantee Fund in the event the amount in the fund falls below the amount needed to honor any guarantee. 3. For the I-95 HOV/HOT Lanes project as evidenced by the Comprehensive Agreement approved pursuant to the Public-Private Transportation Act of 1995, the maximum fee and/or premium charged by the Virginia Small Business Financing Authority pursuant to §§ 2.2- 2285 and 2.2-2291, Code of Virginia, for acting as the conduit issuer for any bond financing is not to exceed $25,000 per annum. E. The Department shall include employment services organizations within the development and operation of any state procurement program or program goal and targets for small, women-owned, and minority-owned businesses consistent with requirements in the Code of Virginia requiring the Department to certify employment service organizations. F. Notwithstanding any other provision of law, any business certified on or after July 1, 2017, by the Department as a small, women-owned, or minority-owned business, shall be certified for a period of five years unless (i) the certification is revoked before the end of the five-year period, (ii) the business ceases operation, or (iii) the business no longer qualifies as a small, women- or minority-owned business. G. Beginning with the calendar quarter ending September 30, 2018, the Director of the Department shall report to the Secretary of Commerce and Trade and the Chairs of the House Appropriations and Senate Finance and Appropriations Committees on the agency's efforts to maximize job creation and retention among the Commonwealth's small businesses. The report shall include, at a minimum, measures of (i) the effectiveness of programs administered by the Small Business Financing Authority in assisting borrowers to create jobs and enable increased capital investment; (ii) the efficiency and effectiveness of Small, Women-owned, and Minority-owned Business and Disadvantaged Business Enterprise programs; (iii) the success of the agency's outreach and technical assistance activities; and, (iv) the number of businesses certified, and the average number of business days to process a certification application each month. The report shall be in a format prescribed by the Secretary but shall include specific data breakouts for rural areas and service-disabled veteran businesses currently certified in the SWaM certification and shall be due within thirty days of the close of each calendar quarter. H. Notwithstanding § 2.2-1604, Code of Virginia, any cooperative association organized pursuant to Chapter 3 (§ 13.1-301 et seq.) of Title 13.1 of the Code of Virginia as a nonstock corporation that was certified as a small business by the Department prior to July 1, 2017, may be recertified as a small business by the Department, provided that such cooperative association otherwise meets the requirements for certification as a small business pursuant to Article 1 (§ 2.2-1603 et seq.) of Chapter 16.1 of Title 2.2 of the Code of Virginia and any other applicable provision of the Code of Virginia. I. Out of the amounts in this Item, $500,000 the first year from the general fund shall be used by the department to produce a new statewide disparity study. J. Out of this appropriation, $150,000 the first year from the general fund is provided to the City of Richmond for the Metropolitan Business League's and Bridging Virginia's Capital Access Program. Any funding remaining at the end of the fiscal year 2025 shall be carried forward into the next fiscal year and reappropriated for the purposes described in this paragraph J. Total for Department of Small Business and Supplier Diversity $9,326,797 $9,476,797 $8,826,797 $8,912,875 General Fund Positions 45.00 45.00 46.00 Nongeneral Fund Positions 24.00 24.00 Position Level 69.00 69.00 70.00 Fund Sources: General $6,180,690 $6,330,690 $5,680,690 $5,766,768 Special $1,180,540 $1,180,540